Primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the production of nootropic drugs, which are designed to enhance cognitive functions such as memory and focus. Additionally, it is employed in the development of compounds targeting neurological disorders, including Alzheimer's disease and other forms of dementia. Its structural properties make it a valuable building block in organic synthesis, particularly in the creation of complex molecules with potential therapeutic applications.