This compound is primarily utilized in the synthesis of complex organic molecules, particularly in pharmaceutical research. It serves as a key intermediate in the production of various bioactive compounds, including potential drug candidates. Its structure is often exploited in the development of molecules targeting neurological disorders, due to its ability to interact with specific receptors in the brain. Additionally, it is employed in the preparation of ligands for catalytic processes in organic chemistry, aiding in the creation of more efficient and selective catalysts. Its versatility makes it a valuable component in medicinal chemistry and material science applications.