Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic receptor modulators and central nervous system agents. Its structural features make it valuable in medicinal chemistry for developing compounds with neurological activity. Also employed in the preparation of chiral ligands and catalysts for asymmetric synthesis. Additionally, it serves as a building block in the development of agrochemicals and bioactive molecules due to its ability to form stable derivatives with functional group versatility.