This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active molecules. Its structural framework is particularly valuable in the development of drug candidates targeting neurological disorders, such as anxiety and depression, due to its ability to interact with specific receptors in the brain. Additionally, it serves as a building block in the production of peptidomimetics, which are compounds designed to mimic peptides and are used in drug discovery for their enhanced stability and bioavailability. Its application extends to the research and development of enzyme inhibitors, where it plays a crucial role in modulating enzymatic activity for therapeutic purposes.