Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of drugs targeting the central nervous system, where its structural features contribute to the modulation of neurotransmitter activity. Additionally, it is employed in the synthesis of specialty chemicals, including dyes and polymers, where its aldehyde group facilitates further chemical modifications. Its role in research and development is significant, aiding in the creation of novel compounds with potential therapeutic applications.