This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of compounds targeting neurological and psychiatric disorders, such as anxiety and depression, due to its potential interaction with neurotransmitter systems. Additionally, it serves as a building block in the development of antimicrobial and antifungal agents, contributing to the discovery of new treatments for infectious diseases. Researchers also explore its role in designing inhibitors for specific enzymes, which could lead to novel therapies for conditions like cancer or metabolic disorders. Its versatility in organic synthesis makes it a crucial component in medicinal chemistry.