This compound is primarily utilized as a key intermediate in the development of pharmaceutical agents targeting the central nervous system, particularly in the synthesis of molecules with antipsychotic, sedative, anti-epileptic, or neuroprotective effects. Researchers explore its derivatives for their ability to interact with specific biological targets, such as enzymes or receptors involved in psychiatric and neurological disorders, potentially leading to new treatments for conditions like schizophrenia, epilepsy, and other CNS-related diseases. Additionally, it is studied in organic chemistry for its role in constructing complex molecular structures, advancing medicinal chemistry and drug discovery.