This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active molecules. It plays a significant role in the development of drugs targeting central nervous system disorders, such as anxiety, depression, and insomnia, due to its structural compatibility with receptors in the brain. Additionally, it is explored for its potential in creating novel therapeutic agents for cardiovascular diseases, leveraging its ability to modulate specific biochemical pathways. Researchers also investigate its use in designing compounds with anti-inflammatory and analgesic properties, contributing to the advancement of pain management therapies. Its versatility in medicinal chemistry makes it a valuable component in drug discovery and development processes.