Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of compounds targeting neurological disorders, due to its ability to interact with specific receptors in the brain. Additionally, it finds utility in the development of agrochemicals, where it contributes to the formulation of new pesticides and herbicides. The compound's unique chemical properties also make it a candidate for material science applications, particularly in the design of advanced polymers and coatings.