This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a significant role in the production of certain drugs, particularly those targeting the central nervous system, due to its structural properties that allow it to interact effectively with biological targets. Additionally, it is employed in the development of chiral compounds, where its stereochemistry is crucial for achieving the desired pharmacological activity. Its application extends to research and development settings, where it is used to explore new therapeutic agents and optimize drug formulations.