This chemical is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various bioactive compounds, particularly those targeting neurological and psychiatric disorders. Its structure is often incorporated into molecules designed to interact with serotonin and dopamine receptors, making it valuable in the development of potential antipsychotic and antidepressant drugs. Additionally, it is explored in the creation of ligands for studying receptor mechanisms and signaling pathways in the central nervous system. Its applications also extend to the design of novel therapeutic agents for conditions like anxiety, depression, and schizophrenia.