This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of certain medications. It plays a crucial role in the development of drugs targeting gastrointestinal disorders, particularly those related to motility and secretion. Its structural properties make it suitable for creating compounds that interact with specific receptors in the digestive system, aiding in the treatment of conditions like nausea, vomiting, and irritable bowel syndrome. Additionally, its derivatives are being explored for potential applications in neurological research, particularly in modulating neurotransmitter activity. Its versatility in drug synthesis highlights its importance in medicinal chemistry.