Primarily utilized in the pharmaceutical industry, this compound serves as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting neurological disorders, particularly those involving dopamine regulation. Additionally, it is employed in research settings for the creation of novel compounds with potential therapeutic effects, especially in the treatment of Parkinson's disease and other neurodegenerative conditions. Its structural properties make it valuable in organic synthesis, contributing to the production of complex molecules with specific biological activities.