Used primarily in pharmaceutical research and development, this compound serves as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the production of drugs targeting neurological and cardiovascular disorders. Its structure allows for modification and incorporation into complex molecules, enhancing their therapeutic efficacy. Additionally, it is employed in the development of diagnostic agents and imaging compounds, aiding in the detection and monitoring of diseases. In organic chemistry, it acts as a building block for creating specialized polymers and coatings with unique properties. Its applications extend to the field of biochemistry, where it is used in the study of enzyme interactions and metabolic pathways.