Primarily utilized in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting central nervous system disorders, including antipsychotic and antidepressant medications. Its structure allows for effective interaction with specific receptors in the brain, making it a crucial component in the design of therapeutic agents. Additionally, it is employed in research settings to study and develop new compounds with potential pharmacological activities, contributing to advancements in medicinal chemistry.