This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its structural framework is often incorporated into compounds designed to interact with specific receptors in the brain, making it valuable for the creation of potential therapeutic agents. Additionally, it is explored in the development of novel drugs for treating conditions like anxiety, insomnia, and other central nervous system-related ailments. Its versatility also extends to organic synthesis, where it is used to build complex heterocyclic structures for further chemical studies.