This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive molecules and drug candidates. Its structural features make it valuable for designing compounds targeting neurological disorders, particularly those involving neurotransmitter regulation. Additionally, it is explored in the development of peptide-based therapeutics due to its amino acid-like structure. The compound's stability and reactivity also make it suitable for use in organic synthesis and medicinal chemistry studies aimed at creating novel therapeutic agents.