Used primarily as an intermediate in organic synthesis, particularly in the development of pharmaceuticals. It serves as a building block for compounds with central nervous system activity, including potential antipsychotic and antidepressant agents. Its structure allows for easy modification, making it valuable in medicinal chemistry for creating libraries of bioactive molecules. Also employed in the synthesis of receptor ligands, especially those targeting serotonin and dopamine receptors. Additionally, it finds use in research settings for studying structure-activity relationships in heterocyclic compounds.