Used primarily in research settings as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of antipsychotic and neuroleptic agents. Its structure supports modification for dopaminergic receptor targeting, making it valuable in studies related to central nervous system disorders. Also investigated for potential applications in photodynamic therapy due to its photoactive properties, where it may act as a sensitizer in light-induced reactions. Limited use in industrial applications; mainly confined to laboratory and experimental medicine.