Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of central nervous system (CNS) drugs, where its structure contributes to the modulation of neurotransmitter activity. Researchers utilize it to create potential treatments for neurological disorders such as anxiety, depression, and schizophrenia. Additionally, its chiral properties make it significant in the study of enantioselective drug action, aiding in the design of more effective and targeted therapies. The compound's stability and reactivity also make it a useful building block in organic synthesis for exploring novel chemical entities.