This compound is primarily utilized in the pharmaceutical industry as a key 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, particularly those related to neurotransmitter regulation. Its structural properties make it suitable for the production of compounds with potential antidepressant or anxiolytic effects. Additionally, it is employed in research settings for the study of receptor binding mechanisms and the development of novel therapeutic agents. Its stability and reactivity also make it valuable in organic synthesis for creating complex molecules with specific biological activities.