This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of complex molecules. It serves as a key intermediate in the creation of biologically active compounds, especially those targeting neurological and cardiovascular disorders. Its unique structure allows for the development of novel therapeutic agents with potential applications in treating conditions like hypertension, anxiety, and depression. Additionally, it is explored in medicinal chemistry for its role in designing enzyme inhibitors, which can be crucial in regulating metabolic pathways. Researchers also investigate its potential in drug delivery systems due to its stability and reactivity.