This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the production of compounds targeting central nervous system disorders, such as anxiety and depression, due to its structural features that interact with neurotransmitter receptors. Additionally, it is employed in the creation of potential therapeutic agents for cardiovascular diseases, leveraging its ability to modulate specific biochemical pathways. Its role in drug discovery is significant, as it provides a versatile scaffold for designing and optimizing novel medications.