Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the development of central nervous system (CNS) drugs, where it helps in creating compounds that interact with neurotransmitter systems. Additionally, it finds application in organic synthesis, aiding in the construction of complex cyclic structures that are prevalent in many therapeutic agents. Its versatility also extends to the study of enzyme mechanisms and receptor binding, making it a crucial component in medicinal chemistry and drug discovery processes.