Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of antipsychotic and antidepressant drugs. Its structure allows for easy modification, making it valuable in medicinal chemistry for building more complex molecules. It is also employed in the preparation of heterocyclic compounds that show biological activity, including antimicrobial and anti-inflammatory agents. Commonly utilized in research settings for drug discovery and optimization due to its reactivity and ability to form stable derivatives.