Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of central nervous system (CNS) drugs, including potential antipsychotic and antidepressant agents. Its structural framework allows for modifications that enhance binding affinity to specific receptors, aiding in the study of neurological disorders. Additionally, it is utilized in organic chemistry as a building block for creating complex molecules with potential therapeutic applications. Its stability and reactivity make it a versatile tool in medicinal chemistry and drug discovery processes.