This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of drugs targeting neurological disorders, such as Parkinson's disease and depression, due to its structural properties that interact with specific receptors in the brain. Additionally, it is employed in the creation of chiral molecules, which are crucial for developing enantiomerically pure drugs to enhance efficacy and reduce side effects. Its application also extends to organic synthesis, where it is used to construct complex molecules for further pharmacological studies.