Used in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting neurological disorders. It serves as a key intermediate in the production of serotonin receptor agonists, which are crucial for treating conditions like migraines and depression. Additionally, it is employed in the preparation of chiral molecules, aiding in the creation of enantiomerically pure substances for advanced medicinal chemistry research. Its role in organic synthesis also extends to the development of bioactive molecules with potential therapeutic applications.