This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various psychotropic medications. It serves as a precursor in the production of tricyclic antidepressants and anxiolytics, which are used to treat mental health disorders such as depression and anxiety. Additionally, its derivatives are explored for their potential in developing drugs targeting neurological conditions, including epilepsy and schizophrenia. The compound’s structural framework is also studied in medicinal chemistry for designing novel therapeutic agents with improved efficacy and reduced side effects.