This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of biologically active molecules. It plays a significant role in the development of pharmaceutical agents, particularly in the design of compounds targeting neurological disorders. Its structural features make it a valuable building block for creating molecules with potential therapeutic effects, such as anti-inflammatory, analgesic, or neuroprotective properties. Additionally, it is explored in research for its potential use in drug discovery programs aimed at addressing conditions like Alzheimer's disease or Parkinson's disease. The compound’s versatility in chemical reactions also allows for modifications to optimize its efficacy and selectivity in biological systems.