This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. It plays a significant role in the development of compounds targeting neurological disorders, particularly those involving serotonin receptors. Its structural features make it a valuable building block for designing drugs with potential antidepressant, anxiolytic, or antipsychotic properties. Additionally, it is explored in research for its potential application in creating novel therapeutic agents for pain management and other central nervous system-related conditions. Its versatility in chemical reactions also makes it useful in organic synthesis for creating complex molecules with specific biological activities.