Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of drugs targeting neurological disorders, due to its structural compatibility with neurotransmitter systems. Additionally, it plays a role in the creation of compounds with potential anti-inflammatory and antimicrobial properties, making it significant in the exploration of new therapeutic agents. Its application extends to organic synthesis, where it aids in constructing complex heterocyclic frameworks essential for medicinal chemistry.