Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) active compounds. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for building complex heterocyclic systems. It is also employed in the preparation of analogs for biological screening, especially in research targeting neurological disorders. Additionally, it serves as a building block in the design of novel organic materials due to its rigid fused-ring framework and electron-rich character.