This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of bioactive molecules. It serves as a key intermediate in the creation of compounds targeting neurological disorders, such as anxiety and depression, due to its structural similarity to molecules that interact with neurotransmitter systems. Additionally, it is explored for its potential in designing drugs with antipsychotic or analgesic properties. Its unique structure allows for modifications that can enhance binding affinity and selectivity towards specific receptors, making it valuable in medicinal chemistry. Researchers also investigate its role in developing novel treatments for chronic pain and inflammatory conditions.