Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of drugs targeting neurological disorders, such as Parkinson's disease, due to its structural similarity to certain neurotransmitters. Additionally, it is employed in the synthesis of agrochemicals and other fine chemicals, contributing to the creation of pesticides and herbicides. Its role in research and development is significant, aiding in the exploration of new therapeutic agents and chemical processes.