Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of drugs targeting central nervous system disorders, such as antidepressants and antipsychotics. Additionally, it finds application in the creation of agrochemicals, including pesticides and herbicides, due to its structural properties that enhance biological activity. Its role in material science is also notable, where it contributes to the synthesis of organic semiconductors and optoelectronic materials, aiding in the advancement of electronic devices.