This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. It plays a significant role in the development of drugs targeting central nervous system disorders, particularly those involving serotonin and dopamine receptors. Its structural features make it valuable for designing molecules with potential antipsychotic and antidepressant properties. Additionally, it is explored in medicinal chemistry research for its ability to enhance the pharmacokinetic profiles of drug candidates, improving their efficacy and safety. Its application extends to the development of novel therapeutic agents for treating neurological and psychiatric conditions.