This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its structural features make it valuable for designing compounds that interact with specific receptors in the brain, potentially aiding in the treatment of conditions like epilepsy, depression, and anxiety. Additionally, it is explored in the development of enzyme inhibitors and as a building block for peptide-based therapeutics. Its unique benzo[b]thiophene moiety contributes to its pharmacological activity, making it a promising candidate for further research in drug discovery.