This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting central nervous system disorders. Its structure is often incorporated into the development of potential antipsychotic and antidepressant agents due to its ability to interact with specific neurotransmitter receptors. Additionally, it is explored in the design of compounds for treating neurodegenerative diseases, such as Alzheimer's and Parkinson's, by modulating pathways involved in neuronal function and protection. Its versatility also extends to cancer research, where it is investigated for its role in creating inhibitors that target specific proteins or enzymes involved in tumor growth and progression.