This compound is primarily utilized in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) drugs. It serves as a key intermediate in the production of compounds that target neurological disorders, such as depression, anxiety, and schizophrenia. Its structure allows for the creation of molecules that interact with serotonin and dopamine receptors, making it valuable in the design of psychotropic medications. Additionally, it is used in research to study receptor binding affinity and to develop new therapeutic agents with improved efficacy and reduced side effects.