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 neurological and psychiatric disorders. Its structural features make it valuable for developing compounds that interact with specific receptors in the central nervous system, such as muscarinic or nicotinic acetylcholine receptors. Researchers often employ it to create analogs or derivatives with potential therapeutic effects, including cognitive enhancement or treatment of conditions like Alzheimer's disease. Additionally, its use in drug discovery processes aids in optimizing pharmacokinetic properties, such as bioavailability and metabolic stability, to improve the efficacy of new drug candidates.