This compound is widely used in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of various drugs, especially those targeting the central nervous system. Its role in chiral synthesis is significant, as it helps create enantiomerically pure compounds, which are crucial for the efficacy and safety of many medications. Additionally, it is utilized in organic chemistry research for constructing complex molecules, enabling advancements in drug discovery and development.