This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting neurological disorders, particularly those involving dopamine receptors. Its structural features make it suitable for creating compounds with potential antipsychotic or antianxiety properties. Additionally, it is explored in medicinal chemistry research for designing molecules with enhanced bioavailability and target specificity. The compound's piperazine moiety contributes to its ability to interact with biological systems, making it valuable in drug discovery and development processes.