This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure is particularly valuable in the development of drugs targeting the central nervous system, where it can be incorporated into molecules designed to interact with specific neurotransmitter receptors. Additionally, it finds application in the creation of small molecule inhibitors that are used in the treatment of diseases such as cancer and inflammatory disorders. Its versatility in chemical reactions makes it a useful building block in medicinal chemistry, enabling the production of compounds with potential therapeutic effects.