This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceuticals. It plays a significant role in the development of drugs targeting neurological disorders, particularly those involving the modulation of GABA receptors. Additionally, it is employed in the creation of antifungal and antibacterial agents, contributing to the treatment of infectious diseases. Its structural properties make it a valuable building block in organic synthesis, enabling the production of complex molecules with potential therapeutic benefits.