Primarily used in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of potential drug candidates targeting neurological disorders, including Parkinson's disease and schizophrenia. Additionally, it is utilized in the development of small molecule inhibitors for specific enzymes involved in cancer pathways. The aldehyde functional group allows for versatile chemical modifications, making it a crucial building block in medicinal chemistry for designing novel therapeutic agents.