This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various therapeutic agents. It plays a significant role in the development of drugs targeting neurological disorders, particularly those related to anxiety, depression, and cognitive impairments. Its structural framework is often incorporated into molecules designed to modulate neurotransmitter systems, such as serotonin and dopamine, which are crucial for mental health. Additionally, it is investigated for its potential in creating treatments for cardiovascular conditions due to its ability to interact with specific receptors that regulate blood pressure and heart function. Researchers also explore its use in designing novel compounds with anti-inflammatory and analgesic properties, making it a versatile component in drug discovery and development.