This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure is valuable for creating ligands that interact with specific receptors in the brain, aiding in the study of conditions like depression, anxiety, and schizophrenia. Additionally, it is employed in the preparation of chiral compounds, where its stereochemistry plays a crucial role in achieving desired pharmacological effects. The compound's stability and reactivity make it a reliable building block in medicinal chemistry for designing and optimizing drug candidates.