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 compounds targeting neurological and psychiatric disorders, particularly in the creation of selective serotonin reuptake inhibitors (SSRIs) and other psychoactive drugs. Its structural properties allow it to interact effectively with biological targets, making it valuable for designing molecules with improved efficacy and reduced side effects. Additionally, it is employed in research settings to study receptor binding and modulation, aiding in the discovery of novel therapeutic agents.