This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure is often incorporated into the design of compounds that interact with neurotransmitter receptors, such as serotonin and dopamine receptors, making it valuable in the development of potential treatments for conditions like depression, anxiety, and schizophrenia. Additionally, it is explored in the creation of novel therapeutic agents due to its ability to modulate specific biochemical pathways, contributing to advancements in drug discovery and development.