This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of gastrointestinal drugs. It serves as a key building block in the production of compounds that target serotonin receptors, which are crucial for treating conditions like irritable bowel syndrome and other motility disorders. Its structural properties allow for modifications that enhance drug efficacy and specificity. Additionally, it is employed in research settings to study the biochemical pathways related to serotonin regulation, aiding in the discovery of novel therapeutic agents.