This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its unique structure makes it valuable for developing drugs targeting central nervous system disorders, such as anxiety and depression, due to its potential interaction with neurotransmitter systems. Additionally, it is explored in the development of antihistamines and anti-inflammatory agents, leveraging its ability to modulate specific biological pathways. Researchers also investigate its potential in creating novel therapeutic agents for treating autoimmune diseases, owing to its structural compatibility with certain immune system targets. Its application extends to organic synthesis, where it serves as a building block for complex molecules in medicinal chemistry.