This compound is primarily utilized in the synthesis of various pharmaceutical intermediates. It serves as a key building block in the development of active pharmaceutical ingredients (APIs), particularly in the production of drugs targeting central nervous system disorders. Its structure allows for modifications that enhance biological activity, making it valuable in medicinal chemistry research. Additionally, it is employed in the creation of fine chemicals and specialty compounds used in organic synthesis. Its benzyloxy and phenyl groups contribute to its versatility in forming complex molecules for therapeutic applications.