Used primarily in the synthesis of pharmaceutical intermediates, this compound plays a crucial role in the development of various drugs, particularly those targeting neurological and cardiovascular conditions. Its structure allows for the introduction of additional functional groups, making it valuable in creating complex molecules. Additionally, it is employed in the production of agrochemicals, contributing to the formulation of pesticides and herbicides. In research, it serves as a building block for organic synthesis, aiding in the study of chemical reactions and the development of new compounds with potential industrial applications.