Used primarily in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. It plays a crucial role in the development of drugs targeting neurological disorders, including Alzheimer's disease and Parkinson's disease. Additionally, it is utilized in the production of chiral molecules, which are essential for creating enantiomerically pure medications. Its application extends to research and development, where it serves as a building block for designing novel therapeutic agents with improved efficacy and reduced side effects.