This chemical is primarily utilized in the synthesis of various pharmaceutical compounds. It serves as a key intermediate in the development of drugs targeting neurological disorders, particularly those involving serotonin receptors. Its structure allows for the creation of molecules that can effectively cross the blood-brain barrier, making it valuable in the design of central nervous system (CNS) medications. Additionally, it is employed in organic chemistry research for the construction of complex heterocyclic compounds, which are essential in drug discovery and development processes.