This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of active pharmaceutical ingredients (APIs) that target neurological disorders. Its structure allows it to act as a precursor in the creation of compounds that modulate neurotransmitter activity, making it valuable in research focused on conditions like Alzheimer's disease and Parkinson's disease. Additionally, it is employed in organic chemistry as a building block for constructing more complex molecules, especially those with potential therapeutic properties. Its ester and amine functional groups make it versatile in reactions such as esterification and amidation, which are crucial in drug design and development.