This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting neurological and psychiatric disorders. Its structural features make it suitable for creating compounds that interact with specific receptors in the brain, potentially leading to the development of new therapeutic agents. Additionally, it is explored in the design of drugs for treating conditions like anxiety, depression, and cognitive impairments. Its versatility in chemical reactions also allows for modifications to enhance efficacy and reduce side effects in drug candidates.