This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure makes it a valuable building block for developing compounds with potential therapeutic effects, particularly in the central nervous system. It is often employed in research and development for creating novel drugs targeting neurological disorders, such as depression, anxiety, and other mood-related conditions. Additionally, its unique chemical properties make it suitable for use in organic synthesis, where it can be modified to produce more complex molecules for further pharmacological studies.