This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting neurological and cardiovascular disorders. It serves as a key intermediate in the production of drugs that modulate neurotransmitter activity, such as dopamine and serotonin receptors, making it valuable in the development of treatments for depression, anxiety, and Parkinson's disease. Additionally, its structural properties make it suitable for creating compounds with potential analgesic and anti-inflammatory effects. In research settings, it is often employed to study receptor interactions and to design novel therapeutic agents with improved efficacy and reduced side effects.