This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active molecules. It plays a significant role in the production of chiral drugs, particularly those targeting neurological and cardiovascular disorders. Its structural properties make it valuable in the development of nootropic agents, which enhance cognitive function, and in the creation of compounds with potential anti-inflammatory and analgesic effects. Additionally, it is employed in organic synthesis for constructing complex heterocyclic frameworks, which are essential in medicinal chemistry for designing novel therapeutic agents.