This compound is primarily utilized in the synthesis of various pharmaceuticals, particularly those targeting neurological and psychiatric disorders. It serves as a key intermediate in the production of antidepressants and antipsychotic medications, where its structural properties help in modulating neurotransmitter activity. Additionally, it finds application in the development of diagnostic agents used in imaging techniques to study brain function and abnormalities. Its role in organic synthesis also extends to creating compounds for research in medicinal chemistry, aiding in the discovery of new therapeutic agents.