Used primarily as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and related antidepressant drugs. Its structure supports the formation of bioactive molecules with central nervous system activity. The compound's functional groups enable efficient derivatization, making it valuable in medicinal chemistry for optimizing drug potency and selectivity. It is also employed in research settings for designing novel therapeutic candidates targeting neurological and psychiatric disorders.