This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of compounds targeting central nervous system disorders, particularly in the production of antidepressants and antipsychotic medications. Its structural properties make it a valuable building block for creating molecules that interact with neurotransmitter systems, such as serotonin and dopamine receptors. Additionally, it is used in research settings to explore novel therapeutic agents for neurological and psychiatric conditions. Its versatility in chemical reactions also allows for its application in the development of other specialized organic compounds.