This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active molecules. Its unique structure makes it valuable in the development of drugs targeting neurological disorders, particularly those involving the modulation of neurotransmitter systems. It is also explored in the creation of compounds with potential analgesic and anti-inflammatory properties. Additionally, its framework is studied for its role in enhancing the bioavailability and stability of therapeutic agents, making it a significant component in drug design and optimization processes.