This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. It serves as a key intermediate in the creation of molecules targeting neurological disorders, such as Parkinson's disease and Alzheimer's disease, due to its structural compatibility with central nervous system receptors. Additionally, it is employed in the development of ligands for studying receptor interactions and signal transduction pathways. Its role in medicinal chemistry extends to the optimization of pharmacokinetic properties in drug design, enhancing bioavailability and efficacy. Researchers also explore its potential in creating compounds with anti-inflammatory and analgesic properties, making it a versatile component in drug discovery pipelines.