This compound is primarily utilized in the field of medicinal chemistry and drug development due to its structural properties. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its unique structure allows it to act as a precursor for compounds that modulate specific receptors in the brain, making it valuable in the development of treatments for conditions like anxiety, depression, and neurodegenerative diseases. Additionally, it is explored in research for its potential application in designing enzyme inhibitors, which can be used to treat cancers and inflammatory diseases. Its versatility in chemical reactions also makes it a useful building block in organic synthesis for creating complex pharmaceutical agents.