This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of pharmaceutical agents. It plays a crucial role in the development of drugs targeting neurological disorders, particularly those involving modulation of neurotransmitter systems. Its structural features make it valuable for creating compounds with potential therapeutic effects on conditions like anxiety, depression, and chronic pain. Additionally, it is employed in research to study receptor-ligand interactions, aiding in the discovery of novel bioactive molecules. Its stability and reactivity allow for efficient incorporation into complex synthetic pathways, making it a key component in drug discovery and development processes.