Used in the synthesis of pharmaceuticals, particularly in the development of compounds with potential therapeutic effects. It serves as a key intermediate in the production of drugs targeting neurological disorders, such as Alzheimer's disease, due to its structural similarity to bioactive molecules. Additionally, it is employed in organic chemistry research for the creation of complex heterocyclic compounds, which are valuable in medicinal chemistry. Its derivatives are also explored for their potential anti-inflammatory and antioxidant properties, making it a versatile building block in drug discovery and development.