This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of compounds targeting the central nervous system, where it can be incorporated into drugs designed to treat neurological disorders such as Parkinson's disease or Alzheimer's. Additionally, it serves as a key building block in the creation of alkaloid derivatives, which are often explored for their potential therapeutic effects. Researchers also leverage its chemical framework to develop novel compounds with potential analgesic or anti-inflammatory properties. Its versatility in organic synthesis makes it a valuable tool in medicinal chemistry for designing and optimizing drug candidates.