This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various drugs. It plays a crucial role in the development of compounds with therapeutic properties, particularly in the creation of medications targeting the central nervous system. Its structural features make it valuable for designing molecules that interact with specific receptors or enzymes in the body. Additionally, it is employed in research settings for the study of biochemical pathways and drug discovery processes. Its versatility also extends to the production of fine chemicals and specialty compounds used in advanced chemical synthesis.