This compound is utilized in the synthesis of various pharmaceutical agents, particularly those targeting neurological and cardiovascular disorders. It serves as a key intermediate in the production of drugs that modulate neurotransmitter activity, making it valuable in the development of treatments for conditions like depression, anxiety, and hypertension. Additionally, its structural properties are leveraged in organic chemistry research to create complex molecules with potential therapeutic applications. The compound's stability and reactivity also make it suitable for use in fine chemical manufacturing processes, where precision and efficiency are critical.