Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of drugs targeting central nervous system disorders, including antidepressants and antipsychotics. Additionally, its structure allows for further chemical modifications, making it versatile in creating compounds with potential therapeutic effects. In research, it is employed to study enzyme interactions and receptor binding mechanisms, aiding in the discovery of new medicinal agents. Its application extends to the synthesis of fine chemicals and agrochemicals, contributing to advancements in both human health and agricultural productivity.