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 drugs targeting central nervous system disorders, such as depression and anxiety, due to its structural similarity to neurotransmitters. Additionally, it plays a role in the creation of compounds with potential antipsychotic and analgesic properties. Its chiral nature makes it significant in producing enantiomerically pure substances, enhancing the efficacy and safety of therapeutic agents.