This compound is primarily utilized in the pharmaceutical and medicinal chemistry fields as a key intermediate or building block in the synthesis of various biologically active molecules. Its structure is often incorporated into the development of potential drug candidates, particularly those targeting neurological and psychiatric disorders. Researchers explore its derivatives for their potential as modulators of specific receptors or enzymes involved in disease pathways. Additionally, it is studied for its role in creating compounds with anti-inflammatory, analgesic, or antimicrobial properties. Its versatility in chemical reactions makes it valuable for designing novel therapeutic agents with improved efficacy and selectivity.