This compound is primarily used in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. It plays a significant role in the development of compounds targeting neurological disorders, particularly those involving serotonin and dopamine receptors. Its structural features make it valuable in designing drugs for conditions like depression, anxiety, and schizophrenia. Additionally, it is utilized in research to explore new therapeutic agents with potential antipsychotic or antidepressant properties. Its application extends to the study of receptor binding interactions, aiding in the optimization of drug efficacy and selectivity.