This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting central nervous system disorders. Its structural features make it valuable in the development of potential therapeutic agents, such as serotonin receptor modulators, which are explored for treating conditions like anxiety, depression, and schizophrenia. Additionally, its derivatives are investigated for their potential antipsychotic and antidepressant properties, contributing to the advancement of psychopharmacology. Researchers also study its role in optimizing drug efficacy and selectivity in preclinical studies.