Used primarily in pharmaceutical synthesis, this compound serves as a key intermediate in the development of active pharmaceutical ingredients (APIs), particularly those targeting central nervous system disorders. Its structure allows for functionalization in multi-step reactions, making it valuable in creating potent receptor modulators. It is also employed in the preparation of selective enzyme inhibitors due to its ability to mimic certain biological motifs. Additionally, it has been explored in the design of novel analgesics and antipsychotic agents, where the piperidine and hydroxymethyl groups contribute to blood-brain barrier penetration and improved metabolic stability.