This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting specific receptors, particularly in the central nervous system. Its structural properties make it valuable for creating compounds with potential therapeutic effects, such as antidepressants or antipsychotics. Additionally, it may be used in research settings to study the biochemical pathways and mechanisms of action of certain drugs, aiding in the discovery of new treatments for neurological and psychiatric disorders.