This compound is primarily utilized in organic synthesis as a building block for more complex molecules. It serves as an intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting neurological disorders. Its structure is valuable in creating heterocyclic compounds, which are essential in medicinal chemistry for their bioactive properties. Additionally, it is employed in research for designing novel enzyme inhibitors and receptor modulators, contributing to advancements in drug discovery. Its carboxylic acid group allows for further functionalization, making it versatile in chemical reactions.