This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceutical compounds. Its structure is particularly valuable in the development of drugs that target the central nervous system, including potential treatments for anxiety and depression. Additionally, it is employed in the synthesis of dyes and pigments, contributing to the vibrant colors found in textiles and plastics. In research settings, it is often used as a building block for more complex molecules, aiding in the study of chemical reactions and the development of new materials. Its versatility and reactivity make it a valuable component in both industrial and academic applications.