This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure is often exploited in the development of novel drugs that interact with neurotransmitter systems, such as serotonin and dopamine receptors. Additionally, it is explored for its potential in creating compounds with anti-inflammatory, analgesic, or anxiolytic properties. Researchers also investigate its role in designing prodrugs or improving the pharmacokinetic profiles of therapeutic agents.