This compound is primarily utilized in the field of organic synthesis and medicinal chemistry. It serves as a key intermediate in the development of various pharmaceutical agents, particularly those targeting neurological and psychiatric disorders. Its structure is often exploited in the design of molecules that interact with specific receptors or enzymes in the brain, making it valuable for drug discovery. Additionally, it is used in the preparation of peptidomimetics, which are compounds that mimic the structure and function of peptides, aiding in the study of biological processes and the development of therapeutic agents. Its stability and reactivity also make it suitable for use in combinatorial chemistry, where it can be employed to create diverse libraries of compounds for high-throughput screening.