This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the creation of compounds targeting neurological disorders, such as depression and anxiety, due to its structural similarity to serotonin and dopamine derivatives. Additionally, it is employed in the study of receptor binding and enzyme inhibition, aiding in the discovery of novel therapeutic agents. Its chiral nature makes it valuable in the development of enantioselective drugs, ensuring higher specificity and efficacy in treatment.