This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various drugs. It plays a crucial role in the development of medications targeting specific diseases, particularly those involving the central nervous system. Its structural properties make it valuable in creating compounds with potential therapeutic effects, such as anti-inflammatory, antiviral, or anticancer agents. Additionally, it is employed in research laboratories for studying biochemical pathways and developing novel drug candidates. Its versatility in chemical reactions allows for modifications that enhance its efficacy in targeted applications.