This chemical is primarily utilized in the field of medicinal chemistry, where it serves as a key intermediate in the synthesis of various pharmaceutical compounds. Its structure is particularly valuable in the development of drugs targeting the central nervous system, as it can be modified to interact with specific receptors or enzymes involved in neurological processes. Additionally, it has been explored for its potential in creating anti-inflammatory and analgesic agents, owing to its ability to influence biochemical pathways associated with pain and inflammation. Researchers also investigate its role in the design of novel therapeutic agents for conditions like anxiety, depression, and neurodegenerative diseases, making it a versatile component in drug discovery and development.