This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a significant role in the development of drugs targeting neurological disorders, particularly those involving the modulation of neurotransmitter systems. Its structural properties make it valuable for creating compounds that interact with specific receptors in the brain, aiding in the treatment of conditions like depression, anxiety, and neurodegenerative diseases. Additionally, it is employed in research settings for studying biochemical pathways and developing novel therapeutic agents. Its versatility in chemical reactions also makes it useful in organic synthesis for constructing complex molecules.