This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). 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 structural properties make it a valuable building block for creating molecules that interact with specific receptors in the brain, enhancing therapeutic efficacy. Additionally, it is employed in research settings to study the pharmacological effects of novel compounds, aiding in the discovery of new treatments for mental health conditions.