Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) active agents. It serves as a building block for dopamine receptor ligands and is involved in the preparation of compounds with potential antipsychotic, antidepressant, and anti-addiction properties. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for creating diverse compound libraries during drug discovery. Also utilized in the production of certain alkaloid derivatives with biological activity.