This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the creation of compounds targeting neurological disorders, such as schizophrenia and depression, due to its structural features that interact with specific receptors in the brain. Additionally, it is employed in the development of potential therapeutic agents for conditions like anxiety and cognitive impairments. Its role in medicinal chemistry is significant, as it aids in the exploration of new drug candidates with improved efficacy and reduced side effects.