This compound is primarily utilized in pharmaceutical research and development due to its potential biological activity. It serves as a key intermediate in the synthesis of various therapeutic agents, particularly those targeting the central nervous system. Its structural features make it a valuable building block for creating molecules that may act as receptor modulators or enzyme inhibitors. Additionally, it has been explored for its potential use in the development of analgesics or antipsychotic medications, owing to its piperidine and hydroxyl group functionalities, which are often found in bioactive molecules. Researchers also investigate its role in creating novel compounds for treating neurological disorders or pain management.