This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a significant role in the development of drugs targeting neurological and psychiatric disorders, particularly those involving dopamine and serotonin receptors. Its structural framework is often incorporated into molecules designed to treat conditions such as schizophrenia, depression, and anxiety. Additionally, it is employed in research settings for the preparation of novel compounds with potential therapeutic effects, contributing to the discovery of new medications. Its versatility in organic synthesis makes it valuable for constructing complex molecules with specific biological activities.