This compound is primarily utilized in pharmacological research as a key intermediate in the synthesis of various bioactive molecules. It plays a significant role in the development of compounds targeting the central nervous system, particularly in the study of serotonin and dopamine receptors. Its structural features make it valuable for designing ligands that can modulate neurotransmitter activity, aiding in the exploration of treatments for neurological and psychiatric disorders such as depression, anxiety, and Parkinson's disease. Additionally, it is employed in medicinal chemistry for the optimization of drug candidates, enhancing their potency, selectivity, and pharmacokinetic properties.