Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of antipsychotic and antidepressant drugs. Its structure supports the formation of active compounds that interact with central nervous system receptors. Commonly employed in the production of selective serotonin reuptake inhibitors (SSRIs) and atypical antipsychotics due to its ability to enhance drug solubility and receptor binding. Also utilized in research settings for designing novel bioactive molecules and in the preparation of analogs for structure-activity relationship (SAR) studies.