This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of more complex molecules. It plays a crucial role in the development of active pharmaceutical ingredients (APIs), particularly in the creation of compounds with potential therapeutic effects. Its structural features make it valuable for constructing bicyclic systems that are often found in drugs targeting neurological and cardiovascular conditions. Additionally, it is employed in organic synthesis to introduce specific functional groups or to serve as a building block for more intricate chemical frameworks. Its stability and reactivity make it a preferred choice in medicinal chemistry research and drug discovery processes.