This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. It serves as a key intermediate in the creation of molecules that target neurological disorders, such as depression and anxiety, due to its structural similarity to certain neurotransmitters. Additionally, it is explored in the development of ligands for receptor studies, aiding in the understanding of biochemical pathways and potential therapeutic targets. Its application extends to organic synthesis, where it is used to build complex heterocyclic compounds with potential biological activity.