This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valued in the development of compounds targeting central nervous system disorders, including anxiety, depression, and cognitive impairments. Its structural framework allows for the creation of molecules that can interact with specific receptors in the brain, enhancing therapeutic efficacy. Additionally, it finds application in research settings for the study of novel drug candidates due to its versatile reactivity and potential for modification. Its role in medicinal chemistry underscores its importance in advancing treatments for complex neurological conditions.