Primarily used in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting central nervous system disorders. It is integral in the development of antipsychotic and antidepressant medications due to its structural compatibility with neurotransmitter receptors. Additionally, it finds application in organic synthesis, where it is utilized to create complex molecules for research and development purposes. Its role in medicinal chemistry underscores its importance in advancing therapeutic treatments for mental health conditions.