This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive molecules. It plays a significant role in the development of central nervous system (CNS) drugs, particularly those targeting neurological disorders such as depression, anxiety, and schizophrenia. Its structural framework is valuable in designing compounds that interact with neurotransmitter receptors, enhancing their efficacy and selectivity. Additionally, it is explored in medicinal chemistry for its potential in creating novel therapeutic agents with improved pharmacokinetic properties.