This compound is primarily utilized in the field of medicinal chemistry and pharmacology due to its structural properties and biological activity. It is often investigated for its potential as a therapeutic agent, particularly in the development of drugs targeting the central nervous system. Its bicyclic structure and functional groups make it a candidate for interacting with specific receptors or enzymes in the brain, which could be beneficial in treating neurological disorders such as anxiety, depression, or neurodegenerative diseases. Additionally, it may serve as a key intermediate in the synthesis of more complex pharmaceutical compounds, contributing to the development of new medications with improved efficacy and safety profiles. Research continues to explore its full range of applications and potential benefits in drug discovery and development.