Used primarily in the synthesis of pharmaceuticals, this compound serves as an intermediate in the production of various drugs, particularly those targeting cardiovascular and central nervous system disorders. Its role in organic synthesis is crucial for creating complex molecules with therapeutic potential. Additionally, it finds application in the development of dyes and pigments, contributing to the coloration of textiles and other materials. In research, it is utilized as a building block for studying biochemical pathways and developing new chemical entities. Its versatility makes it valuable in both industrial and academic settings.