This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of pharmaceutical agents. It is particularly significant in the development of drugs targeting neurological disorders, such as Parkinson's disease and depression, due to its structural similarity to bioactive molecules that interact with neurotransmitter systems. Additionally, it is employed in research to study the pharmacological effects of fluorinated compounds, which often exhibit enhanced stability and bioavailability. Its role in the synthesis of chiral compounds is also noteworthy, as it aids in the production of enantiomerically pure substances, which are crucial for drug efficacy and safety.