This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting neurological disorders. Its structural framework is often explored for designing inhibitors of specific enzymes or receptors involved in neurodegenerative diseases. Additionally, it has shown potential in the development of anti-inflammatory and analgesic agents due to its unique chemical scaffold, which can be modified to enhance pharmacological properties. Researchers also investigate its derivatives for potential applications in treating conditions like Alzheimer's disease and Parkinson's disease, owing to its ability to interact with biological targets in the central nervous system.