Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of compounds targeting the central nervous system, such as antidepressants and anxiolytics. Its structure allows for modifications that can enhance binding affinity to specific receptors, making it a versatile building block in medicinal chemistry. Additionally, it is utilized in research to study the pharmacological properties of tetralin derivatives, aiding in the discovery of new therapeutic agents.