It is widely used as a key intermediate in the synthesis of various pharmaceutical compounds, particularly in the development of drugs targeting the central nervous system. Its bicyclic structure is valuable in creating molecules with specific biological activities, such as analgesics and antispasmodics. Additionally, it serves as a building block in the production of agrochemicals, contributing to the formulation of pesticides and herbicides. Its versatility in organic synthesis also makes it useful in research and development for creating novel chemical entities with potential therapeutic applications.