This compound is primarily utilized in the field of medicinal chemistry and pharmacological research. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting the central nervous system. Its structure is often explored for developing potential therapeutic agents, including antidepressants and antipsychotics, due to its ability to interact with neurotransmitter receptors. Additionally, it is studied for its role in modulating serotonin and dopamine pathways, making it valuable in the development of drugs for mental health disorders. Researchers also investigate its potential in treating conditions like Parkinson's disease and chronic pain due to its influence on neural signaling pathways.