This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting the central nervous system. Its structure is often incorporated into the development of ligands for receptors involved in neurological pathways, making it valuable for creating potential treatments for conditions like Parkinson's disease, schizophrenia, and other psychiatric disorders. Additionally, it is used in the preparation of chiral catalysts, which are essential in asymmetric synthesis to produce enantiomerically pure compounds in drug manufacturing. Its role in these applications highlights its importance in advancing therapeutic and synthetic chemistry.