This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting central nervous system disorders, including anxiety and depression. Additionally, it is employed in the preparation of chiral ligands for asymmetric catalysis, enhancing the efficiency and selectivity of chemical reactions in organic synthesis. Its structural features make it valuable in the design of molecules with specific biological activities, particularly in the field of medicinal chemistry.