Primarily utilized in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly significant in the development of therapeutic agents targeting the central nervous system, where its structural framework is incorporated into compounds designed to modulate neurotransmitter activity. Additionally, it finds application in the research and development of potential drugs for treating anxiety, depression, and other neurological disorders. Its role in medicinal chemistry is crucial for creating derivatives with enhanced efficacy and reduced side effects.