This compound is primarily utilized in the synthesis of various pharmaceutical agents, particularly those targeting neurological and psychiatric disorders. It serves as a key intermediate in the production of benzodiazepine derivatives, which are widely prescribed for their anxiolytic, sedative, and muscle relaxant properties. Additionally, it is employed in research settings to develop novel compounds with potential therapeutic effects on the central nervous system. Its role in organic synthesis also extends to the creation of complex molecules for studying biochemical pathways and drug-receptor interactions.