This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. It serves as a building block for the development of drugs targeting neurological disorders, particularly those affecting the central nervous system. Its structural framework is incorporated into compounds designed to modulate neurotransmitter activity, making it valuable in the creation of potential treatments for conditions like depression, anxiety, and Parkinson's disease. Additionally, it is explored in the design of ligands for receptor studies, aiding in the understanding of biochemical pathways and drug-receptor interactions. Its versatility also extends to research in organic synthesis, where it is used to develop novel chemical entities with potential therapeutic applications.