Primarily used in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various drugs. Its structure is particularly valuable in the development of beta-blockers, which are medications that help manage conditions like hypertension, arrhythmias, and angina by blocking the effects of adrenaline. Additionally, it finds application in the creation of dyes and pigments due to its nitro and amino functional groups, which contribute to color formation. In research, it is utilized in organic synthesis to explore new chemical reactions and pathways, aiding in the advancement of medicinal chemistry and material science.