Used primarily as a key intermediate in the synthesis of antipsychotic medications, particularly in the production of risperidone and related compounds. Its structure enables effective dopamine and serotonin receptor modulation, making it valuable in treating schizophrenia and bipolar disorder. The amine group allows for further chemical modifications, facilitating the development of pharmaceuticals with improved efficacy and reduced side effects. Widely utilized in research and industrial settings for developing central nervous system therapeutics.