This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting central nervous system disorders, such as antidepressants and anxiolytics, due to its structural properties that influence neurotransmitter activity. Additionally, it finds application in research settings for studying receptor interactions and developing novel therapeutic agents. Its chiral nature also makes it useful in asymmetric synthesis, enabling the production of enantiomerically pure compounds.