This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the creation of compounds that target the central nervous system, including potential treatments for neurological disorders such as Parkinson's disease and depression. Its structural framework is also explored in the design of ligands for various receptors, aiding in the study of receptor-ligand interactions and drug discovery. Additionally, it finds application in the development of novel therapeutic agents due to its ability to modulate specific biochemical pathways.