Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of compounds targeting neurological disorders, such as anxiety and insomnia, due to its ability to interact with specific receptors in the brain. Additionally, it is employed in the development of potential therapeutic agents for treating inflammation and pain. Its versatility in organic synthesis also makes it a useful building block for designing novel drugs with improved efficacy and safety profiles.