This compound is primarily utilized in the synthesis of various pharmaceutical agents, particularly those targeting the central nervous system. It serves as a key intermediate in the production of antipsychotic and antidepressant medications, where its structural properties enable effective binding to specific receptors in the brain. Additionally, it is employed in the development of compounds with potential anti-inflammatory and analgesic properties. Its versatility in organic synthesis also makes it valuable in creating complex molecules for research and drug discovery.