This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting the central nervous system, where its structural properties contribute to the creation of compounds with specific biological activities. Additionally, it serves as a building block in organic synthesis, enabling the production of complex molecules with potential therapeutic applications. Its role in chiral synthesis is also noteworthy, as it aids in the production of enantiomerically pure substances, which are crucial for the efficacy and safety of many medications.