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 drugs targeting neurological and psychiatric disorders, such as antipsychotics and antidepressants. Its structure, featuring a piperazine ring and an ethanol group, allows for effective interaction with various receptors in the central nervous system. Additionally, it is explored in the design of compounds with potential anti-inflammatory and analgesic properties. Its applications extend to medicinal chemistry, where it is used to optimize drug efficacy and selectivity.