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 the carbonyl and aromatic ring, making it valuable in medicinal chemistry for building complex molecules. Commonly employed in cross-coupling reactions, such as Suzuki or Negishi couplings, to introduce aryl groups for drug candidates targeting neurological disorders. Also utilized in the preparation of cyclobutane-containing analogs to study conformational restriction effects on biological activity.