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 the central nervous system. Its structure is often explored for the development of potential therapeutic agents, including antidepressants, anxiolytics, and antipsychotics. Additionally, it is investigated for its role in modulating neurotransmitter systems, which could lead to treatments for neurological and psychiatric disorders. Researchers also study its derivatives for their potential efficacy in addressing conditions like chronic pain and neurodegenerative diseases.