This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. It plays a significant role in the development of drugs targeting central nervous system disorders, particularly as a precursor in the production of compounds with potential antipsychotic or antidepressant properties. Its structural features make it valuable for creating molecules that interact with specific receptors in the brain, aiding in the modulation of neurotransmitter activity. Additionally, it is explored in research for its potential applications in designing novel therapeutic agents for neurodegenerative diseases and other neurological conditions.