This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of pharmaceuticals targeting the central nervous system, as it can be modified to create compounds with potential anxiolytic, sedative, or anticonvulsant properties. Additionally, it serves as a building block in the preparation of heterocyclic compounds, which are often explored for their therapeutic applications in treating neurological disorders or as potential anti-inflammatory agents. Researchers also investigate its derivatives for their potential use in drug discovery programs aimed at addressing unmet medical needs.