Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin and dopamine receptor modulators. Commonly employed in the production of central nervous system (CNS) active compounds, including potential antipsychotic and antidepressant agents. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building more complex bioactive molecules. Also utilized in agrochemical research for designing novel pesticides and herbicides due to its stability and reactivity profile.