This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive molecules. It plays a significant role in the development of drugs targeting neurological disorders, particularly those involving modulation of neurotransmitter systems. Additionally, it is employed in the creation of anti-inflammatory and analgesic agents, contributing to the treatment of chronic pain and inflammation-related conditions. Its structural properties make it valuable in medicinal chemistry for designing compounds with improved efficacy and reduced side effects.