This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of various biologically active molecules. It serves as a key intermediate in the creation of potential therapeutic agents, including those targeting neurological disorders and psychiatric conditions. Its structure is often incorporated into compounds that interact with neurotransmitter systems, making it valuable for designing drugs that modulate brain activity. Additionally, it is explored in medicinal chemistry for its potential in developing treatments for pain management and inflammation. Its versatility in organic synthesis also makes it a useful building block for creating more complex chemical entities in drug discovery pipelines.