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 crucial role in the development of drugs targeting neurological and psychiatric disorders, particularly those involving the modulation of neurotransmitter systems. Its structural properties make it a valuable building block for creating molecules with potential therapeutic effects in conditions such as depression, anxiety, and cognitive impairments. Additionally, it is explored in research for its potential application in designing novel treatments for neurodegenerative diseases.