Used primarily in research settings as an intermediate in the synthesis of pharmaceutical compounds. It serves as a building block for developing bioactive molecules, particularly in the design of central nervous system agents due to its structural similarity to known neuroactive substances. Its derivatives are explored for potential activity in neurological and psychiatric disorders. Also utilized in the development of receptor ligands, especially targeting serotonin and dopamine receptors, making it valuable in medicinal chemistry for drug discovery. Not used in consumer products or industrial applications.