This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active compounds. It plays a crucial role in the development of drugs targeting neurological disorders, particularly those involving the modulation of neurotransmitter systems. Additionally, it is employed in the creation of potential therapeutic agents for treating psychiatric conditions such as anxiety and depression. Its structural framework is also explored in the design of novel molecules for cancer research, where it aids in the development of inhibitors targeting specific enzymes or receptors involved in tumor growth. Researchers further investigate its utility in organic synthesis for constructing complex heterocyclic compounds with potential medicinal properties.