Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the development of central nervous system (CNS) drugs, where it can act as a building block for compounds targeting neurological disorders. Additionally, it has been explored in the creation of potential treatments for conditions like depression, anxiety, and chronic pain due to its interaction with specific neurotransmitter systems. Its chlorobenzyl group enhances binding affinity to certain receptors, making it a useful component in drug discovery and medicinal chemistry.