Used primarily in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting central nervous system disorders, including antidepressants and antipsychotics. Additionally, its structure allows for further chemical modifications, making it a versatile building block in medicinal chemistry for creating compounds with potential therapeutic effects. Its application extends to research settings, where it is utilized in the study of biochemical pathways and drug discovery processes.