This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting central nervous system disorders, particularly as a precursor in the production of selective serotonin reuptake inhibitors (SSRIs) or other psychoactive agents. Its chiral structure is significant for creating enantiomerically pure compounds, which are essential for ensuring the efficacy and safety of the final drug product. Additionally, it may be employed in research settings for studying receptor binding activities and developing novel therapeutic agents.