Primarily utilized in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the creation of compounds targeting neurological disorders, including potential treatments for depression and anxiety. Additionally, it finds application in the development of novel antiviral and antibacterial agents, contributing to the advancement of therapeutic options in infectious disease management. In organic chemistry, it is employed in the preparation of complex molecules through cyclopropanation reactions, aiding in the exploration of new chemical entities with potential industrial and medicinal significance.