Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the creation of compounds targeting neurological disorders, such as Parkinson's disease and schizophrenia, due to its structural properties that interact with dopamine receptors. Additionally, it is employed in the development of potential therapeutic agents for treating depression and anxiety. Its role in organic synthesis also extends to the production of novel materials and ligands for catalytic processes in industrial chemistry.