Used primarily in the field of organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows it to act as a building block for more complex molecules, particularly in the development of drugs targeting neurological disorders. Additionally, it is employed in research settings for studying molecular interactions and reaction mechanisms due to its unique chemical properties. In industrial applications, it can be utilized in the synthesis of dyes and pigments, contributing to the coloration of textiles and plastics. Its stability and reactivity make it a valuable component in specialized chemical processes.