This compound is primarily utilized in the field of medicinal chemistry due to its potential biological activities. It has been studied for its anti-inflammatory and antioxidant properties, making it a candidate for developing therapeutic agents targeting diseases related to oxidative stress and inflammation. Researchers are also exploring its role in inhibiting specific enzymes or pathways involved in chronic conditions. Additionally, its unique structure contributes to its application in organic synthesis, where it serves as an intermediate for creating more complex molecules with potential pharmacological benefits.