This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various drugs. It plays a crucial role in the development of medications targeting the central nervous system, particularly those used for treating neurological disorders. Its structure allows it to act as a building block for creating molecules that can interact with specific receptors in the brain, aiding in the development of antidepressants, antipsychotics, and anxiolytics. Additionally, it is employed in research settings to study neurotransmitter pathways and receptor mechanisms, contributing to advancements in neuroscience and pharmacology.