This chemical 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 compounds with potential antidepressant and anxiolytic properties, owing to its structural similarity to bioactive molecules that interact with the central nervous system. Additionally, it is employed in organic synthesis to create complex heterocyclic compounds, which are often explored for their biological activities. Its unique structure also makes it valuable in research for designing novel drugs targeting neurological disorders.