Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is valuable in the development of drugs targeting neurological disorders, as it can influence receptor activity in the brain. Additionally, it is utilized in the preparation of chiral catalysts, which are essential in asymmetric synthesis for producing enantiomerically pure compounds. In medicinal chemistry, it contributes to the design of novel therapeutic agents, particularly those aimed at modulating enzyme function or receptor binding.