This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting the central nervous system. Its structural features make it valuable in the development of potential therapeutic agents for neurological disorders, such as Parkinson's disease and other conditions involving dopamine modulation. Additionally, it is explored in the creation of novel compounds with potential analgesic or anti-inflammatory properties, contributing to the advancement of drug discovery and development.