This compound is primarily utilized in the field of pharmaceutical research, particularly in the development of central nervous system (CNS) drugs. It serves as a key intermediate in the synthesis of compounds targeting serotonin receptors, which are implicated in various neurological and psychiatric disorders such as depression, anxiety, and schizophrenia. Its structural properties make it a valuable building block for designing molecules with potential therapeutic effects. Additionally, it is explored in studies related to neuroprotection and the modulation of neurotransmitter activity, contributing to advancements in treatments for neurodegenerative diseases.