Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders. Its structure serves as a building block for compounds with biological activity, including potential antipsychotic and antidepressant agents. Also employed in the preparation of chiral ligands and catalysts for asymmetric synthesis, contributing to the production of enantiomerically pure substances. Additionally, derivatives of this compound are explored in medicinal chemistry for their anti-inflammatory and neuroprotective properties.