This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting the central nervous system (CNS), particularly those used for treating neurological disorders such as Alzheimer's disease, Parkinson's disease, and other cognitive impairments. Its structural features make it a valuable building block for creating molecules that can interact with specific receptors or enzymes in the brain, enhancing therapeutic efficacy. Additionally, it is employed in research settings to study the pharmacological properties of novel compounds, aiding in the discovery of new treatments for complex medical conditions.