This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure is particularly valuable in the development of drugs targeting neurological disorders, such as Parkinson's disease and depression, due to its potential to interact with specific receptors in the brain. Additionally, it is employed in the research and development of novel therapeutic agents, where its unique chemical framework aids in the creation of molecules with enhanced efficacy and selectivity. The compound's role in medicinal chemistry underscores its importance in advancing treatments for complex diseases.