This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its structure is often incorporated into compounds designed to interact with neurotransmitter systems, making it valuable in the development of potential treatments for conditions like depression, anxiety, and neurodegenerative diseases. Additionally, its derivatives are explored for their potential as analgesics or anti-inflammatory agents, contributing to the development of novel therapeutic drugs.