Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin and dopamine receptor modulators. Commonly employed in the production of central nervous system (CNS) active agents, including antidepressants and antipsychotics. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for creating analogs during drug discovery. Also utilized in agrochemical research for designing bioactive molecules with improved stability and selectivity.