This compound is primarily utilized in the field of medicinal chemistry, where it serves as a key intermediate in the synthesis of various pharmacologically active molecules. It is particularly significant in the development of compounds targeting the central nervous system, as its structure is conducive to interacting with specific neurotransmitter receptors. Additionally, it finds application in the creation of potential therapeutic agents for treating conditions like anxiety, insomnia, and other neurological disorders. Its versatility also extends to its use in organic synthesis, where it aids in constructing complex heterocyclic frameworks essential for drug discovery and development.