This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of compounds targeting neurological and psychiatric disorders, such as depression and anxiety, due to its structural similarity to bioactive molecules. Additionally, it is employed in the creation of ligands for receptor studies, aiding in the understanding of biochemical pathways and drug interactions. Its role in medicinal chemistry is significant for designing and optimizing drugs with improved efficacy and reduced side effects.