This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs), particularly those targeting neurological and psychiatric disorders. Its structural properties make it suitable for the development of compounds that interact with neurotransmitter systems, such as dopamine and serotonin receptors. Additionally, it is explored in the creation of potential therapeutic agents for conditions like depression, anxiety, and other central nervous system-related diseases. Its application is also seen in organic synthesis for constructing complex molecules with specific pharmacological activities.