This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a significant role in the development of drugs targeting central nervous system disorders, particularly those involving neurotransmitter modulation. Its structural framework is valuable in creating compounds with potential antidepressant or anxiolytic properties. Additionally, it is explored in research for its potential application in designing selective receptor agonists or antagonists, contributing to advancements in neuropharmacology and therapeutic drug discovery.