This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting the central nervous system. It serves as a key intermediate in the production of drugs that modulate neurotransmitter activity, such as dopamine and serotonin, making it valuable in the development of treatments for psychiatric and neurological disorders. Additionally, it is employed in research settings to study receptor interactions and develop novel therapeutic agents. Its structural properties also make it a useful building block in organic chemistry for creating complex molecules with potential medicinal applications.