Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of drugs targeting neurological disorders, such as Alzheimer's disease and Parkinson's disease, due to its structural compatibility with neurotransmitter systems. Additionally, it plays a role in the creation of chiral catalysts, which are essential in asymmetric synthesis for producing enantiomerically pure compounds. Its application extends to the field of medicinal chemistry, where it aids in the design of novel therapeutic agents with improved efficacy and selectivity.