This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting central nervous system disorders. Its structure is often leveraged to develop compounds with potential antipsychotic or antidepressant properties. Additionally, it is used in the preparation of piperazine derivatives, which are crucial in drug discovery for their ability to modulate receptor activity. Its application extends to the development of novel therapeutic agents, contributing to advancements in treating neurological and psychiatric conditions.