This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various pharmacologically active molecules, particularly those targeting the central nervous system. Its structure is often incorporated into compounds designed to interact with neurotransmitter receptors, making it valuable in the development of potential treatments for neurological and psychiatric disorders. Additionally, it is explored in the creation of ligands for receptor binding studies, aiding in the understanding of biochemical pathways and the design of more effective therapeutic agents.