This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly in the synthesis of compounds with potential therapeutic properties. Its structure is often explored for designing drugs targeting central nervous system disorders, such as antidepressants and anxiolytics. Additionally, it is investigated for its role in creating anti-inflammatory and anticancer agents due to its unique chemical framework. Researchers also study its derivatives for their potential in modulating enzyme activity and receptor binding, making it valuable in medicinal chemistry.