This compound is primarily utilized in the synthesis of various pharmaceutical intermediates. It serves as a key building block in the development of active pharmaceutical ingredients (APIs), particularly in the creation of drugs targeting neurological and cardiovascular conditions. Its structure allows for the introduction of additional functional groups, making it versatile in medicinal chemistry. Additionally, it is employed in research settings to explore new chemical entities with potential therapeutic applications. Its role in organic synthesis also extends to the production of complex molecules for biochemical studies.