This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting the central nervous system. Its structure is often incorporated into compounds designed to interact with specific neurotransmitter receptors, making it valuable in the study of neurological disorders such as Parkinson's disease, Alzheimer's disease, and schizophrenia. Additionally, it is employed in the development of potential therapeutic agents that modulate dopaminergic and serotonergic pathways. Researchers also explore its use in creating novel ligands for receptor binding studies, aiding in the understanding of receptor mechanisms and drug design.