This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure serves as a foundational scaffold for developing compounds with potential therapeutic applications, particularly in the design of drugs targeting neurological disorders and cardiovascular diseases. Additionally, it has been explored for its role in creating ligands for receptor studies, aiding in the understanding of biochemical pathways. Its versatility also extends to agrochemical research, where it contributes to the development of novel pesticides and herbicides.