Used as a key intermediate in the synthesis of certain pharmaceuticals, particularly in the production of antidepressant and antipsychotic drugs. Its structural features allow for the development of bioactive molecules that interact with central nervous system receptors. It is also employed in the preparation of chiral compounds through asymmetric synthesis, making it valuable in medicinal chemistry for creating enantiomerically pure drugs. Additionally, it serves as a building block in the development of agrochemicals and specialty chemicals requiring specific stereochemistry.