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 unique structure makes it a valuable scaffold for developing drugs that interact with specific receptors in the brain, such as those involved in mood regulation and cognitive function. Additionally, it is explored for its potential in creating novel therapeutic agents for treating conditions like depression, anxiety, and neurodegenerative diseases. Its application extends to organic synthesis, where it is used to construct complex heterocyclic compounds with potential pharmacological properties.