This chemical is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive compounds, particularly those targeting neurological and cardiovascular disorders. Its structural features make it suitable for designing molecules that interact with specific receptors or enzymes in the body. Additionally, it is explored in the creation of prodrugs, where its ester group can be hydrolyzed to release an active drug molecule. Researchers also investigate its potential in developing novel therapeutic agents due to its piperidine and benzoate moieties, which are common in drug design.