This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. It plays a significant role in the development of drugs targeting neurological disorders, particularly those involving the central nervous system. Its structural properties make it suitable for creating molecules that interact with specific receptors or enzymes in the brain, potentially aiding in the treatment of conditions like depression, anxiety, or neurodegenerative diseases. Additionally, it is explored in research for its potential use in designing novel therapeutic agents with improved efficacy and reduced side effects.