This compound is primarily utilized in the field of medicinal chemistry, where it serves as a key intermediate in the synthesis of various pharmacologically active molecules. Its structure is particularly valuable in the development of compounds targeting the central nervous system, as the bicyclic framework can mimic certain natural alkaloids. Researchers often exploit this chemical to create derivatives that interact with neurotransmitter receptors, potentially leading to new treatments for neurological disorders such as Parkinson's disease, depression, or anxiety. Additionally, its benzyl group allows for further functionalization, enabling the design of molecules with enhanced selectivity and potency. This compound is also explored in the study of enzyme inhibition, particularly in cases where the enzyme plays a role in disease progression. Its versatility makes it a valuable tool in drug discovery and development pipelines.