This compound is primarily utilized in pharmaceutical research as a key intermediate in the synthesis of various biologically active molecules. It is particularly significant in the development of compounds targeting the central nervous system, where its structural framework is often incorporated into drugs designed to modulate neurotransmitter activity. Additionally, it has been explored in the creation of potential therapeutic agents for neurological disorders, such as anxiety, depression, and cognitive impairments. Its versatility in chemical synthesis also makes it a valuable building block for the development of novel drug candidates with improved efficacy and reduced side effects.