Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of drugs targeting neurological disorders, such as antidepressants and antipsychotics, due to its structural similarity to certain neurotransmitters. Additionally, it finds application in the study of enzyme inhibition and receptor binding, aiding in the discovery of novel therapeutic agents. Its incorporation into peptide synthesis also makes it useful in the production of modified peptides for biochemical studies.