This chemical is primarily used in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical compounds. Its unique structure makes it valuable for developing drugs targeting neurological disorders, particularly those involving serotonin receptors. It is also explored in the creation of potential anticancer agents due to its ability to interact with specific cellular pathways. Additionally, it serves as a building block in organic synthesis for designing novel molecules with therapeutic properties. Researchers often utilize it in drug discovery programs to optimize biological activity and improve drug efficacy.