This compound is primarily utilized in pharmaceutical research and development as an intermediate in the synthesis of more complex molecules. It is often employed in the creation of biologically active compounds, particularly those targeting neurological and psychiatric disorders. Its structure allows for modifications that can enhance drug efficacy and selectivity. Additionally, it is used in organic synthesis to build piperidine-based frameworks, which are common in medicinal chemistry. Researchers also explore its potential in designing prodrugs, where its hydroxyl and carboxylate groups play a key role in improving bioavailability and metabolic stability.