This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the design of drugs targeting neurological disorders, such as anxiety and depression, due to its ability to interact with specific receptors in the brain. Additionally, it is explored for its potential in developing anti-inflammatory and anticancer agents, as its framework can be modified to enhance binding affinity and selectivity towards targeted proteins. Researchers also investigate its use in creating agrochemicals, where it may contribute to the development of novel pesticides or herbicides with improved efficacy and reduced environmental impact. Its versatility in chemical reactions makes it a valuable building block in organic synthesis, enabling the creation of diverse compounds with potential applications in multiple industries.