This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. Its structure is particularly valuable in the development of compounds targeting neurological disorders, such as antidepressants and anxiolytics, due to its ability to interact with serotonin receptors. Additionally, it serves as a building block in the creation of novel organic compounds with potential applications in drug discovery and development. Researchers also explore its use in designing ligands for receptor studies, aiding in the understanding of biochemical pathways and therapeutic targets.