This compound is primarily utilized in pharmaceutical research and development, particularly as a key intermediate in the synthesis of various biologically active molecules. Its unique structure makes it valuable for designing compounds that target specific enzymes or receptors, often in the context of neurological or metabolic disorders. Additionally, it has been explored in the creation of novel drug candidates for treating conditions such as depression, anxiety, and chronic pain, due to its potential interactions with neurotransmitter systems. In material science, it may also serve as a building block for developing advanced polymers with specialized properties.