This compound is primarily utilized in the field of medicinal chemistry due to its structural similarity to certain alkaloids. It serves as a key intermediate in the synthesis of complex organic molecules, particularly those with potential pharmacological activity. Researchers explore its derivatives for their potential use in developing drugs targeting neurological disorders, such as Parkinson's disease or Alzheimer's, owing to its ability to interact with specific receptors in the brain. Additionally, it is studied for its potential anti-inflammatory and analgesic properties, making it a candidate for pain management therapies. Its unique structure also makes it valuable in academic research for understanding biochemical pathways and receptor interactions.