Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of potential therapeutic agents targeting neurological disorders, such as Parkinson's disease and depression, due to its structural similarity to neurotransmitters. Additionally, it is explored for its potential in creating compounds with analgesic and anti-inflammatory properties. Its versatility also extends to organic synthesis, where it aids in constructing complex heterocyclic frameworks for drug discovery and development.