This compound is primarily utilized in the field of medicinal chemistry due to its structural similarity to tryptophan derivatives, which are crucial in synthesizing various biologically active molecules. It serves as a key intermediate in the production of pharmaceutical agents targeting neurological disorders, including depression and anxiety, by acting on serotonin receptors. Additionally, its chiral nature makes it valuable in the development of enantioselective drugs, ensuring higher specificity and reduced side effects. Researchers also explore its potential in creating novel compounds for treating neurodegenerative diseases.