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 specific medical conditions, particularly those related to neurological and psychiatric disorders. Its unique structure allows it to act as a building block for more complex molecules that interact with biological systems, potentially leading to the creation of novel therapeutics. Additionally, it may be explored in research settings for its potential pharmacological properties, such as receptor binding or enzyme inhibition, contributing to advancements in medicinal chemistry.