This chemical is primarily utilized in the field of pharmaceutical research and development, particularly in the synthesis of novel drug candidates. It serves as a key intermediate in the creation of compounds that target specific biological pathways, often in the context of neurological or cardiovascular diseases. Its structure allows for modifications that can enhance binding affinity to target proteins, making it valuable in the design of enzyme inhibitors or receptor modulators. Additionally, it is explored in the development of agrochemicals, where it contributes to the formulation of new pesticides or herbicides with improved efficacy and selectivity. Researchers also investigate its potential in material science, particularly in the synthesis of advanced polymers or coatings with specialized properties.