This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its structure is particularly valuable in the development of compounds targeting neurological disorders, including anxiety and depression. The chemical's framework allows for the creation of molecules that interact with specific receptors in the brain, such as serotonin and dopamine receptors, which are critical in regulating mood and behavior. Additionally, it is employed in the research and development of drugs aimed at treating cardiovascular diseases due to its potential to modulate blood pressure and heart rate. Its versatility also extends to the synthesis of novel compounds with potential anti-inflammatory and analgesic properties, making it a significant building block in drug discovery and development processes.