Used primarily in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting neurological disorders, including antipsychotic and antidepressant medications. Its structural properties make it valuable for creating compounds that interact with specific receptors in the brain, aiding in the treatment of mental health conditions. Additionally, it is utilized in research settings to study and develop novel therapeutic agents with potential applications in oncology and immunology.