Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of drugs targeting the central nervous system, including potential treatments for neurological disorders such as Alzheimer's disease and Parkinson's disease. Additionally, it is explored in the creation of compounds with potential anticancer properties, leveraging its ability to interact with specific cellular pathways. Its application extends to the study of enzyme inhibitors, where it helps in understanding and modulating biochemical processes.