Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system (CNS) agents. It serves as a building block for dopamine and serotonin receptor modulators, which are relevant in treating psychiatric disorders such as depression, schizophrenia, and anxiety. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for optimizing drug candidates. Also employed in the preparation of kinase inhibitors and other bioactive molecules in research settings.