This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting neurological and psychiatric disorders, particularly those involving modulation of neurotransmitter systems. Its structural features make it valuable for creating compounds with potential therapeutic effects on conditions like depression, anxiety, and cognitive impairments. Additionally, it is employed in research settings to study receptor interactions and develop novel treatments with improved efficacy and safety profiles.