Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting the central nervous system, where its structural properties facilitate the creation of molecules with enhanced bioavailability and therapeutic efficacy. Additionally, it finds application in organic synthesis as a building block for constructing complex molecules, often utilized in the preparation of dyes, pigments, and other specialty chemicals. Its role in medicinal chemistry is underscored by its ability to modify drug solubility and stability, making it a critical component in drug formulation processes.