Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure is particularly valuable in the development of drugs targeting central nervous system disorders, including potential treatments for anxiety and depression. Additionally, it is utilized in the creation of agrochemicals, contributing to the formulation of pesticides and herbicides that protect crops from pests and diseases. Its unique chemical properties also make it a candidate for use in organic synthesis, aiding in the production of complex molecules for further industrial applications.