This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of various pharmaceutical agents. It plays a crucial role in the development of drugs targeting central nervous system disorders, particularly those involving dopamine and serotonin receptors. Its structural features make it a valuable building block for creating molecules with potential antipsychotic, antidepressant, or anxiolytic properties. Researchers often employ it in the design and optimization of compounds to enhance their pharmacological activity and selectivity. Additionally, it may be used in the preparation of ligands for studying receptor binding and signaling pathways in neurological research.