This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the development of central nervous system (CNS) drugs, including potential treatments for neurological disorders such as anxiety, depression, and schizophrenia. The chiral center in the molecule allows for the creation of enantiomerically pure compounds, which is crucial for enhancing drug efficacy and reducing side effects. Additionally, it serves as a building block in the preparation of ligands for receptor binding studies, aiding in the exploration of new therapeutic targets. Its versatility in medicinal chemistry makes it a significant component in the design and optimization of novel drug candidates.