This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly significant in the development of drugs targeting the central nervous system, where its structure contributes to the modulation of neurotransmitter activity. Additionally, it finds application in the research and development of novel therapeutic agents, especially those aimed at treating neurological disorders. Its role in organic synthesis also extends to the creation of complex molecules for medicinal chemistry studies.