This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. Its structure, featuring both hydroxyl and hydroxymethyl groups, makes it a versatile intermediate for the creation of biologically active molecules. It is often employed in the preparation of compounds targeting neurological disorders, such as cognitive enhancers or treatments for neurodegenerative diseases. Additionally, its piperidine core is valuable in designing molecules for pain management and anti-inflammatory therapies. The hydrochloride form enhances its solubility, facilitating its use in various experimental and formulation processes.