This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its structural features make it a valuable building block for developing compounds that interact with specific receptors in the brain, such as serotonin or dopamine receptors. Researchers also explore its potential in designing drugs for mood disorders, anxiety, and depression due to its ability to modulate neurotransmitter systems. Additionally, it is investigated for its role in creating novel therapeutics with improved efficacy and reduced side effects.