This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting the central nervous system. Its structure is often exploited to develop compounds with potential anxiolytic, antidepressant, or antipsychotic properties. Additionally, it is used in the preparation of heterocyclic compounds, which are essential in medicinal chemistry for drug discovery. Its role as a building block in organic synthesis makes it valuable for creating complex molecular architectures with therapeutic potential.