This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure makes it valuable for developing compounds with potential therapeutic effects, particularly in the central nervous system. It is often employed in research settings to explore new drug candidates targeting neurological disorders, such as depression, anxiety, or cognitive impairments. Additionally, its chemical properties allow it to be used in the preparation of chiral molecules, which are critical in the production of enantiomerically pure drugs. Its role as a building block in organic synthesis further extends its application in creating complex molecules for medicinal chemistry studies.