This compound is primarily utilized in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) drugs. It serves as a key intermediate in the production of compounds that target neurotransmitter systems, such as serotonin and dopamine, making it valuable for creating treatments for psychiatric and neurological disorders. Additionally, it is employed in research settings to study receptor interactions and develop novel therapeutic molecules with potential applications in mental health and neurodegenerative diseases. Its structural properties also make it suitable for use in asymmetric synthesis, contributing to the creation of enantiomerically pure drugs.