This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. It plays a significant role in the development of drugs targeting the central nervous system, particularly those designed to treat neurological disorders such as Parkinson's disease and schizophrenia. Its structure is often incorporated into molecules that interact with dopamine receptors, making it valuable for creating compounds with potential antipsychotic and neuroprotective properties. Additionally, it is explored in research for its potential applications in developing treatments for addiction and other psychiatric conditions.