This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting specific enzymes or receptors. Its structure is often incorporated into compounds designed for therapeutic applications, such as anti-inflammatory or anticancer agents. Additionally, it is explored in the development of novel drugs due to its potential to modulate biochemical pathways. Researchers also study its derivatives for their efficacy in treating neurological disorders and other medical conditions. Its versatility makes it a valuable component in medicinal chemistry and drug discovery projects.