This compound is primarily utilized in pharmaceutical research and development due to its potential biological activity. It serves as a key intermediate in the synthesis of various therapeutic agents, particularly those targeting the central nervous system. Its structural properties make it a valuable building block for creating molecules with potential antipsychotic, antidepressant, or anxiolytic effects. Additionally, it is explored in the study of receptor binding and enzyme inhibition, aiding in the discovery of new drugs for neurological and psychiatric disorders. Its applications also extend to organic synthesis, where it is used to develop novel compounds with specific pharmacological profiles.