This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of bioactive molecules. It serves as a key intermediate in the creation of compounds targeting neurological disorders, such as depression and anxiety, due to its structural similarity to neurotransmitters. Additionally, it is explored in the design of ligands for receptors in the central nervous system, aiding in the study of receptor-ligand interactions. Its application also extends to organic synthesis, where it is used to construct complex molecules with potential therapeutic properties.