This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting neurological and psychiatric disorders due to its structural similarity to certain neurotransmitters. Additionally, it is employed in research settings for studying receptor interactions and developing potential therapeutic agents. Its chiral nature makes it valuable in the production of enantiomerically pure compounds, which are essential for ensuring the efficacy and safety of pharmaceutical products.