Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure is particularly valuable in the creation of drugs targeting neurological and cardiovascular conditions. Additionally, it is employed in the preparation of chiral compounds, aiding in the development of enantiomerically pure substances, which are crucial for enhancing drug efficacy and reducing side effects. The compound also finds applications in organic synthesis, where it acts as a building block for complex molecules in medicinal chemistry.