This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting central nervous system disorders. Its structure is valuable in the development of potential therapeutic agents, including inhibitors for specific enzymes or receptors involved in neurological conditions. Additionally, it is explored for its role in creating compounds with anti-inflammatory or antioxidant properties, making it a versatile building block in drug discovery and development processes.