This compound is primarily utilized in the synthesis of pharmaceutical agents, particularly those targeting neurological and psychiatric disorders. It serves as a key intermediate in the production of drugs that modulate neurotransmitter systems, such as GABAergic and glutamatergic pathways. Additionally, it is employed in the development of chelating agents for metal ions, which can be applied in medical imaging and detoxification therapies. Its structural properties also make it a candidate for research in designing enzyme inhibitors and receptor modulators, contributing to advancements in medicinal chemistry.