This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive molecules. It plays a crucial role in the development of certain drugs, particularly those targeting neurological and psychiatric disorders. Its structure is often incorporated into compounds designed to modulate neurotransmitter activity, making it valuable in the creation of medications for conditions such as depression, anxiety, and chronic pain. Additionally, it is used in research settings to study receptor interactions and develop novel therapeutic agents with improved efficacy and reduced side effects.