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 employed in the study of enzyme inhibition and receptor binding mechanisms, aiding in the discovery of new drugs. Its role in organic synthesis also extends to creating complex heterocyclic compounds for further biological evaluation.