Used primarily as an intermediate in organic synthesis, this compound serves in the development of pharmaceuticals, particularly in the preparation of bioactive molecules with potential central nervous system activity. It has been explored in research settings for its role in constructing heterocyclic frameworks found in medicinal agents. Additionally, derivatives of this compound may contribute to studies on enzyme inhibition and receptor modulation, making it valuable in drug discovery and design. Its structure supports further functionalization, enabling the creation of compound libraries for biological screening.