This compound is primarily utilized in pharmaceutical research and development, particularly as a building block in the synthesis of various active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of drugs targeting neurological and psychiatric disorders, such as anxiety and depression, due to its structural similarity to certain neurotransmitters. Additionally, it is employed in the development of fluorinated compounds, which are often explored for their enhanced metabolic stability and bioavailability in drug design. Its applications also extend to the study of enzyme interactions and receptor binding mechanisms, aiding in the discovery of new therapeutic agents.