This chemical is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active compounds, particularly those targeting central nervous system disorders. Its structure is often exploited in the development of novel therapeutic agents, including potential treatments for anxiety, depression, and other neurological conditions. Additionally, it is employed in the creation of fluorescent probes and imaging agents, aiding in the study of cellular processes and molecular interactions. Its unique properties make it valuable in drug discovery and biochemical research applications.