This compound is utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive molecules and drug candidates. Its structure is particularly valuable in the development of compounds targeting neurological disorders, such as cognitive enhancers and antipsychotic agents. Additionally, it serves as a building block in the creation of ligands for receptor studies, aiding in the understanding of biochemical pathways. Its application extends to medicinal chemistry research, where it is employed to optimize pharmacokinetic properties and enhance drug efficacy.