This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. Its unique structure makes it valuable for developing drugs targeting neurological disorders, such as anxiety and depression, due to its ability to interact with specific receptors in the brain. Additionally, it serves as a building block in the creation of complex molecules for potential treatments of cardiovascular diseases. Its application extends to research and development, where it is used to explore novel therapeutic agents and optimize drug efficacy.