Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the creation of drugs targeting neurological disorders, such as Alzheimer's disease and other cognitive impairments, due to its structural compatibility with receptors in the central nervous system. Additionally, it is employed in the development of potential treatments for psychiatric conditions, including anxiety and depression, owing to its ability to modulate neurotransmitter systems. Its chiral nature also makes it useful in the production of enantiomerically pure compounds, ensuring higher specificity and efficacy in drug formulations.