This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. It plays a significant role in the development of compounds targeting the central nervous system, particularly in the design of potential antipsychotic and antidepressant agents. Its structural framework allows for modifications that can enhance binding affinity to specific receptors, such as dopamine or serotonin receptors, which are critical in treating neurological disorders. Additionally, it is explored in the creation of novel compounds with potential applications in managing neurodegenerative diseases like Alzheimer’s and Parkinson’s. Its versatility in chemical reactions also makes it valuable in organic synthesis for constructing complex molecular architectures.