This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of pharmaceutical agents, especially those targeting neurological disorders and cancer. Researchers often employ it in the construction of complex heterocyclic compounds, which are essential for drug discovery programs. Additionally, it serves as a building block in the preparation of ligands for receptor studies, aiding in the understanding of biochemical pathways and potential therapeutic targets. Its iodine moiety also makes it a useful candidate for radiolabeling applications, enabling its use in imaging and diagnostic research.