Used primarily in the synthesis of pharmaceuticals, particularly in the development of drugs targeting neurological disorders. It serves as a key intermediate in the production of compounds that modulate neurotransmitter activity, aiding in the treatment of conditions like epilepsy and Parkinson's disease. Additionally, it is employed in the creation of chelating agents for metal ions, which are useful in analytical chemistry and industrial processes. Its thiol group makes it valuable in forming stable bonds with metals, enhancing its role in catalysis and material science applications.