This compound is primarily utilized in the field of pharmaceutical research due to its structural properties, which make it a valuable intermediate in the synthesis of various bioactive molecules. It is often employed in the development of compounds that target neurological disorders, as its core structure can interact with specific receptors in the brain. Additionally, it serves as a key building block in the creation of potential anticancer agents, where its framework is modified to enhance efficacy and selectivity. Researchers also explore its use in organic synthesis for constructing complex heterocyclic compounds, which are essential in drug discovery and development processes.