Used primarily in the pharmaceutical industry, this compound serves as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting neurological and cardiovascular disorders. Its structure allows for modifications that can enhance the efficacy and selectivity of therapeutic agents. Additionally, it finds application in research settings for studying enzyme interactions and receptor binding mechanisms, aiding in the discovery of new drug candidates. Its role in organic synthesis also extends to the creation of complex molecules with potential medicinal properties.