Primarily utilized in the pharmaceutical industry, it serves as a key intermediate in the synthesis of various therapeutic agents. Its structure is particularly valuable in the development of compounds targeting the central nervous system, such as antipsychotics and antidepressants. Additionally, it is employed in the creation of ligands for receptor studies, aiding in the understanding of neurological pathways and drug interactions. Its role in medicinal chemistry underscores its importance in advancing treatments for mental health disorders and neurological conditions.