This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. It serves as a key intermediate in the production of compounds targeting central nervous system disorders, such as anxiety and insomnia. Its structure is valuable for creating molecules that interact with specific receptors in the brain, enhancing therapeutic efficacy. Additionally, it is employed in medicinal chemistry to explore structure-activity relationships, aiding in the optimization of drug properties like potency, selectivity, and bioavailability. Its applications also extend to the development of prodrugs, where it can be modified to improve drug delivery and stability.