Used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of drugs targeting neurological disorders, including potential treatments for Parkinson's disease and other neurodegenerative conditions. Additionally, its structure makes it a useful building block in the creation of compounds with potential anticancer properties. Researchers also explore its application in the design of novel enzyme inhibitors, contributing to advancements in medicinal chemistry.