This compound is primarily utilized in the field of medicinal chemistry due to its unique structural properties. It serves as a key intermediate in the synthesis of various pharmacologically active molecules, particularly those targeting central nervous system disorders. Its application extends to the development of antipsychotic and anxiolytic agents, where its structural framework is modified to enhance binding affinity and selectivity towards specific receptors. Additionally, it is explored in research for its potential anti-inflammatory and antimicrobial properties, making it a versatile candidate for drug discovery and development.