This compound is primarily utilized in the synthesis of various pharmaceutical agents, particularly those targeting neurological and psychiatric disorders. It serves as a key intermediate in the production of selective serotonin reuptake inhibitors (SSRIs) and other antidepressants, which are critical in managing conditions like depression and anxiety. Additionally, it is employed in the development of compounds with potential anti-inflammatory and analgesic properties, making it valuable in pain management research. Its structural features also make it a candidate for use in organic synthesis for creating complex molecules with therapeutic potential.