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 the central nervous system. Its structure is often exploited in the design of compounds that interact with neurotransmitter systems, making it valuable for creating potential treatments for neurological disorders such as depression, anxiety, and Parkinson's disease. Additionally, it is used in the development of receptor-specific ligands for studying biochemical pathways and drug mechanisms. Its application extends to organic synthesis, where it acts as a building block for more complex molecules in medicinal chemistry.