This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure is particularly valuable in the development of pharmaceutical agents, especially those targeting neurological disorders. The compound's unique framework allows for the creation of derivatives that can interact with specific receptors in the brain, making it a crucial component in the research and development of new medications. Additionally, it is employed in the study of chemical reactions and mechanisms, aiding in the advancement of synthetic methodologies.