Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of bioactive molecules with potential cardiovascular and central nervous system activity. Its structure serves as a scaffold in medicinal chemistry due to its stability and ability to mimic aromatic and heterocyclic systems. Commonly employed in the preparation of receptor agonists and antagonists, especially in research targeting serotonin and dopamine receptors. Also utilized in agrochemicals for designing herbicides and plant growth regulators owing to its favorable electronic and steric properties.