This chemical is primarily utilized in the synthesis of pharmaceutical compounds, particularly those targeting neurological and psychiatric disorders. It serves as a key intermediate in the development of drugs that interact with serotonin and dopamine receptors, aiding in the treatment of conditions like depression, anxiety, and schizophrenia. Additionally, it is employed in research settings to study receptor binding mechanisms and to design novel therapeutic agents. Its structural properties make it valuable for creating molecules with specific biological activities, contributing to advancements in medicinal chemistry.