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 Parkinson's disease, due to its ability to modulate specific neurotransmitter systems. Additionally, it finds application in the creation of antimicrobial agents, contributing to the fight against resistant bacterial strains. Its role in organic synthesis also extends to the production of ligands for metal catalysis, aiding in the development of more efficient chemical processes.