Used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of drugs targeting the central nervous system, due to its structural similarity to compounds that interact with neurotransmitter receptors. Additionally, it is utilized in the creation of potential therapeutic agents for treating conditions like anxiety, depression, and insomnia. Its unique structure also makes it a candidate for exploring novel anti-inflammatory and antimicrobial agents.