This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of compounds with potential therapeutic effects, particularly in the areas of central nervous system (CNS) disorders and inflammation. Its structure allows for modifications that can lead to the creation of molecules with specific biological activities, making it valuable for drug discovery and research. Additionally, it is used in organic synthesis to produce complex molecules for further pharmacological evaluation.