This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. It plays a significant role in the development of drugs targeting the central nervous system, particularly those designed to treat psychiatric disorders such as schizophrenia and bipolar disorder. Its structure is often incorporated into molecules that act as modulators of neurotransmitter receptors, including dopamine and serotonin receptors, which are critical in regulating mood and behavior. Additionally, it is explored in the creation of compounds with potential antipsychotic and anxiolytic properties, contributing to advancements in mental health therapeutics.