This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. It serves as a key intermediate in the production of compounds targeting central nervous system disorders, such as Alzheimer's disease and schizophrenia, due to its structural similarity to bioactive molecules. Additionally, it is employed in the creation of ligands for nicotinic acetylcholine receptors, which are crucial in neurological studies. Its role in medicinal chemistry extends to the development of potential therapeutic agents for pain management and cognitive enhancement.