This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as an intermediate in the development of various active pharmaceutical ingredients (APIs). Its structure is particularly valuable in the synthesis of compounds with potential therapeutic effects, such as those targeting neurological or cardiovascular systems. Additionally, it may be used in the preparation of specialty chemicals, including surfactants or ligands for metal coordination, due to its functional groups. Researchers also explore its role in modifying the properties of polymers or other materials for specific industrial applications.