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 as a precursor in the production of compounds with potential antidepressant or anxiolytic properties. Additionally, its structure is valuable in medicinal chemistry for designing molecules that interact with specific receptors or enzymes in the body. Researchers also explore its derivatives for potential applications in treating neurodegenerative diseases or as part of drug discovery programs aimed at identifying novel therapeutic agents. Its versatility in organic synthesis makes it a valuable building block for creating complex molecules with potential biological activity.