This compound is primarily utilized in the synthesis of pharmaceuticals, particularly in the development of drugs targeting the central nervous system. It serves as a key intermediate in the production of antipsychotic and antidepressant medications, where its structure plays a crucial role in binding to specific receptors in the brain. Additionally, it is employed in research settings to study serotonin and dopamine pathways, aiding in the understanding of neurological disorders. Its application extends to the creation of compounds used in treating conditions like anxiety, depression, and schizophrenia.