This compound is primarily utilized in the field of medicinal chemistry, particularly in the development of pharmaceuticals targeting neurological disorders. It serves as a key intermediate in the synthesis of compounds that interact with serotonin receptors, which are crucial for treating conditions like depression, anxiety, and schizophrenia. Additionally, its structural framework is explored for its potential in creating drugs that modulate other central nervous system (CNS) targets, offering possibilities for innovative therapies in mental health and neurodegenerative diseases.