Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for building complex ring systems. Also employed in the preparation of bioactive molecules and analogs for drug discovery research. Shows utility in organic synthesis as a building block for fused-ring compounds with potential biological activity.