This chemical is primarily utilized in the pharmaceutical and research industries. It serves as a key intermediate in the synthesis of various bioactive compounds, particularly those targeting neurological and psychiatric disorders. Its structure is often incorporated into molecules designed to interact with specific receptors in the brain, making it valuable in the development of drugs for conditions like anxiety, depression, and insomnia. Additionally, it is used in organic chemistry research to explore novel reactions and pathways, contributing to the advancement of synthetic methodologies. Its versatility and reactivity make it a useful building block in medicinal chemistry.