Used primarily in pharmaceutical research, this compound is a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of drugs targeting the central nervous system, such as potential treatments for neurological disorders like Parkinson's disease and depression. Its structural framework is also explored in the creation of compounds with analgesic and anti-inflammatory properties. Additionally, it serves as a building block in organic chemistry for constructing more complex heterocyclic compounds with potential therapeutic applications.