This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its structure is often explored for developing compounds with potential applications in treating conditions like Parkinson's disease, depression, and anxiety. Additionally, it is studied for its role in modulating neurotransmitter systems, making it valuable in the development of novel therapeutic agents. Researchers also investigate its potential in creating ligands for specific receptors, aiding in the discovery of new drugs with improved efficacy and reduced side effects.