This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structural framework is often incorporated into the development of compounds that interact with neurotransmitter systems, such as serotonin and dopamine receptors. Additionally, it is explored for its potential in creating novel therapeutic agents for conditions like depression, anxiety, and schizophrenia. Researchers also investigate its role in modulating enzyme activity, which can lead to the discovery of new drugs with improved efficacy and reduced side effects.