Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of potential therapeutic agents targeting neurological disorders, such as Parkinson's disease and depression, due to its ability to interact with specific receptors in the brain. Additionally, it is explored in the creation of compounds with potential anti-inflammatory and analgesic properties. Its versatility in organic synthesis also makes it a useful building block for designing novel chemical entities in drug discovery programs.