This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active molecules. It plays a crucial role in the development of drugs targeting neurological disorders, particularly those involving neurotransmitter regulation. Additionally, it is employed in the creation of compounds with potential anticancer properties, where its structure contributes to the inhibition of specific enzymes involved in tumor growth. In research settings, it is used to study the mechanisms of enzyme interactions and to develop novel therapeutic agents. Its versatility also extends to the field of organic synthesis, where it serves as a building block for more complex chemical structures.