Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting the central nervous system, such as antidepressants and treatments for Parkinson's disease. It plays a role in creating compounds with potential therapeutic effects for neurological disorders. Additionally, it is being studied for applications in developing antiviral and anticancer drugs due to its chemical structure, which can be easily modified to enhance efficacy and reduce side effects. It is also employed in organic chemistry research for constructing complex molecular structures owing to its unique chemical properties. Its applications extend to the production of specialty chemicals used in various industrial processes.