Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various active pharmaceutical ingredients (APIs). 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 ability to introduce specific functional groups that enhance the efficacy of these products. In the field of organic chemistry, it is utilized in the preparation of complex molecules through reactions like reductive amination and nucleophilic substitution, making it a versatile building block in research and industrial processes.