This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting neurological and psychiatric disorders. Its structural properties make it valuable for designing compounds that interact with specific receptors in the brain, potentially leading to the development of new therapeutic agents. Additionally, it is employed in organic synthesis to create complex heterocyclic compounds, which are often explored for their medicinal properties. Its role in these processes underscores its importance in advancing drug discovery and chemical innovation.