Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various therapeutic agents. Its structure is particularly valuable in the development of compounds targeting the central nervous system, such as antidepressants and anxiolytics. Additionally, it is utilized in the creation of ligands for receptor studies, aiding in the understanding of neurological pathways and drug interactions. Its role in organic synthesis also extends to the production of specialty chemicals with potential applications in material science and industrial processes.