This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of drugs targeting central nervous system disorders. Its structure allows it to act as a precursor in the production of compounds with potential antidepressant and anxiolytic properties. Additionally, it is employed in organic synthesis for creating complex molecules with biological activity, such as inhibitors for specific enzymes or receptors. Its hydroxyl and cyano groups make it a versatile building block in medicinal chemistry, enabling the creation of diverse therapeutic agents.