This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of various therapeutic agents, including those targeting neurological and psychiatric disorders. Its structural framework is valuable in designing molecules that interact with specific biological targets, such as receptors or enzymes, to modulate their activity. Additionally, it is explored in the development of prodrugs, where its properties can enhance drug delivery and bioavailability. Researchers also investigate its potential in creating novel compounds for treating conditions like anxiety, depression, and cognitive impairments.