This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting the central nervous system, particularly those used for treating anxiety, depression, and other neurological disorders. Its structural properties make it valuable for creating compounds that interact with specific receptors in the brain, enhancing therapeutic efficacy. Additionally, it is employed in research settings to study biochemical pathways and develop novel therapeutic agents. Its applications are largely confined to specialized chemical synthesis and drug development processes.