This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of active pharmaceutical ingredients (APIs). It is particularly significant in the development of drugs targeting neurological and psychiatric disorders, where its structural properties play a crucial role in enhancing drug efficacy and specificity. Additionally, it is employed in research settings for the study of receptor interactions and the development of novel therapeutic agents. Its unique chemical structure allows for potential applications in creating compounds with improved bioavailability and reduced side effects.