This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active compounds. It plays a significant role in the development of drugs targeting central nervous system disorders, including antipsychotics and antidepressants. Additionally, it is employed in the creation of receptor antagonists and enzyme inhibitors, which are critical in treating conditions such as schizophrenia, anxiety, and depression. Its structural properties make it a versatile building block in medicinal chemistry, enabling the design of molecules with specific therapeutic effects.