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 central nervous system disorders, including antidepressants and antipsychotics. Its structural features, such as the piperazine ring and hydroxyl group, make it a valuable building block for designing molecules with specific biological activities. Additionally, it is employed in research settings for studying receptor interactions and optimizing drug candidates for improved efficacy and safety profiles.