This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of complex organic molecules, particularly those targeting neurological disorders. Its unique structure makes it valuable for developing potential drugs that interact with specific receptors in the brain, such as serotonin or dopamine receptors. Researchers are exploring its application in creating novel therapeutics for conditions like depression, anxiety, and neurodegenerative diseases. Additionally, its scaffold is being investigated for its potential in designing enzyme inhibitors, which could play a role in treating various metabolic and genetic disorders.