This compound is primarily utilized in pharmaceutical research and development, particularly in the study of neurological disorders. It acts as a key intermediate in the synthesis of compounds targeting serotonin and dopamine receptors, which are implicated in conditions such as depression, anxiety, and Parkinson's disease. Its structural properties make it valuable for designing molecules with enhanced selectivity and potency for specific receptor subtypes. Additionally, it is employed in the development of potential therapeutic agents for pain management and addiction treatment, owing to its interaction with neurotransmitter systems. Researchers also explore its use in creating radiolabeled analogs for imaging studies to better understand brain function and receptor distribution.