Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of drugs targeting neurological disorders, including antidepressants and antipsychotics, due to its structural similarity to neurotransmitters. Additionally, it plays a role in the creation of compounds with potential anti-inflammatory and antimicrobial properties, making it a versatile building block in medicinal chemistry. Its application extends to the study of enzyme inhibition, aiding in the design of therapeutic agents for metabolic and cardiovascular diseases.