This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the creation of compounds targeting neurological disorders, such as Parkinson's disease and other conditions involving dopamine regulation. Its structural properties make it suitable for designing selective inhibitors or modulators of specific enzymes or receptors in the central nervous system. Additionally, it is explored in the development of potential therapeutic agents for psychiatric disorders due to its ability to interact with neurotransmitter systems. Researchers also investigate its use in the preparation of radiolabeled compounds for imaging studies, aiding in the understanding of disease mechanisms and drug efficacy.