This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. It plays a significant role in the development of antipsychotic and neuroleptic drugs, particularly those targeting serotonin and dopamine receptors in the central nervous system. Its structural framework is often incorporated into compounds designed to treat psychiatric disorders such as schizophrenia and bipolar disorder. Additionally, it serves as a building block in the creation of potential therapeutic agents for anxiety and depression, owing to its ability to modulate neurotransmitter activity. Researchers also explore its derivatives for their potential in drug discovery programs aimed at addressing neurological and behavioral conditions.