This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. Its structural features make it suitable for the development of compounds targeting neurological disorders, particularly those involving modulation of neurotransmitter systems. Researchers often employ it in the design and synthesis of potential therapeutic agents for conditions such as depression, anxiety, and neurodegenerative diseases. Additionally, its unique bicyclic structure allows for further chemical modifications, enabling the creation of diverse derivatives with potential applications in drug discovery and development.