Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various complex molecules. Its structure makes it valuable in the development of pharmaceuticals, particularly in the synthesis of psychoactive substances where specific aromatic substitutions are required. Additionally, it finds application in the creation of specialty chemicals used in research and development, particularly in studies involving receptor binding and neurotransmitter activity. Its unique properties also make it suitable for use in the synthesis of dyes and pigments, where specific color properties are desired.