Used primarily in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. It plays a crucial role in the development of drugs targeting central nervous system disorders, including potential treatments for depression and anxiety. Additionally, it is utilized in research for designing and optimizing molecules with specific receptor-binding properties, aiding in the discovery of new therapeutic agents. Its structural features make it valuable in enantioselective synthesis, contributing to the production of chiral drugs with enhanced efficacy and reduced side effects.