This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various drugs. It plays a significant role in the development of therapeutic agents, particularly those targeting neurological and psychiatric disorders. Its structural properties make it valuable for creating compounds that interact with specific receptors in the brain, aiding in the treatment of conditions such as depression, anxiety, and cognitive impairments. Additionally, it is explored in research for its potential use in designing novel medications with improved efficacy and reduced side effects. Its application extends to organic synthesis, where it serves as a building block for complex molecules in medicinal chemistry.