This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of more complex molecules. It plays a crucial role in the development of pharmaceutical agents, particularly those targeting neurological and cardiovascular disorders. Its structural framework is often incorporated into drug candidates that require specific binding affinity to biological targets. Additionally, it is explored in research for its potential in creating novel therapeutic compounds with enhanced efficacy and reduced side effects. The compound's versatility also makes it valuable in the study of structure-activity relationships, aiding in the optimization of drug properties.