Used primarily in the synthesis of pharmaceutical compounds, it serves as an intermediate in the production of various drugs, particularly those targeting neurological and cardiovascular conditions. Its role in organic synthesis is significant for creating complex molecules with potential therapeutic effects. Additionally, it is utilized in research and development for studying biochemical pathways and drug interactions. In industrial applications, it contributes to the manufacturing of dyes and pigments due to its aromatic structure. Its versatility makes it valuable in both medicinal chemistry and material science.