This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various bioactive molecules. It plays a significant role in the development of drugs targeting neurological disorders, particularly those involving the central nervous system. Its structural framework is valuable in creating compounds with potential antidepressant, antipsychotic, and anxiolytic properties. Additionally, it is explored in research for its potential applications in treating neurodegenerative diseases such as Alzheimer’s and Parkinson’s. Its versatility in chemical reactions also makes it a useful building block in organic synthesis for creating complex molecules with therapeutic potential.