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 potential treatments for anxiety and depression. Additionally, it serves as a building block in the creation of molecules with potential anticancer properties, owing to its ability to interact with specific biological pathways. Researchers also explore its use in designing inhibitors for enzymes involved in inflammatory processes, making it a versatile component in drug discovery and development.