Used primarily in the synthesis of various pharmaceutical compounds, this chemical serves as a key intermediate in the production of drugs targeting neurological and cardiovascular conditions. Its structure allows it to act as a building block for molecules that interact with specific receptors in the body, making it valuable in the development of medications for anxiety, depression, and hypertension. Additionally, it finds application in agricultural chemistry, where it is utilized in the formulation of certain pesticides and herbicides, contributing to crop protection and yield improvement. Its versatility in organic synthesis also extends to the creation of specialty chemicals used in research and industrial processes.