Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the creation of potential therapeutic agents targeting neurological disorders and certain types of cancers. Additionally, it is employed in the development of novel compounds for studying serotonin receptors, which play a crucial role in mood regulation and mental health. Its unique properties also make it a candidate for use in organic synthesis and material science, contributing to the advancement of specialized chemical applications.