This chemical is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active compounds, particularly those targeting neurological and cardiovascular disorders. Its unique structure allows it to act as a building block for creating molecules that interact with specific receptors or enzymes in the body. Additionally, it is explored in the development of potential anticancer agents due to its ability to modulate cellular pathways. Researchers also investigate its use in creating novel therapeutic agents for inflammatory and autoimmune diseases. Its applications extend to material science, where it is studied for its potential in creating advanced organic electronic materials.