This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structural framework is often incorporated into drug candidates designed to interact with specific receptors in the brain, such as serotonin or dopamine receptors. Additionally, it is explored in the development of compounds with potential anti-inflammatory or antimicrobial properties. Its versatility in chemical modifications makes it a valuable building block in medicinal chemistry for creating novel therapeutic agents.