This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of active pharmaceutical ingredients (APIs). It plays a critical role in the development of drugs targeting neurological disorders, particularly those involving serotonin receptors. Its unique structure allows it to act as a key building block in the production of selective serotonin reuptake inhibitors (SSRIs) or other serotonin-modulating agents, which are used to treat conditions like depression, anxiety, and certain types of chronic pain. Additionally, its application extends to research settings, where it is employed in the study of receptor binding and pharmacological activity, aiding in the discovery of novel therapeutic compounds.