This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure is often explored for the development of potential drugs that modulate neurotransmitter systems, such as dopamine or serotonin receptors. Researchers also investigate its role in creating compounds with anti-inflammatory or antimicrobial properties. Additionally, it is used in organic synthesis to study novel chemical reactions and pathways, contributing to advancements in drug discovery and development.