This compound is primarily utilized in the synthesis of various pharmaceuticals, particularly in the development of serotonin receptor agonists and other central nervous system-targeting drugs. Its structure makes it a valuable intermediate in the production of compounds that modulate neurotransmitter activity, potentially aiding in the treatment of conditions like depression, anxiety, and migraines. Additionally, it is employed in organic chemistry research for the creation of complex molecules with potential biological activity, contributing to drug discovery and development processes.