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 crucial role in the development of drugs targeting neurological disorders, particularly those involving the modulation of neurotransmitter systems. Its structure is often incorporated into molecules designed to interact with specific receptors in the brain, aiding in the treatment of conditions like depression, anxiety, and cognitive impairments. Additionally, it is employed in research settings for the study of biochemical pathways and the development of novel therapeutic agents. Its stability and reactivity make it a valuable component in organic synthesis, particularly in the construction of complex molecules with potential medicinal properties.