Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting cardiovascular and central nervous system disorders. Additionally, its structure makes it suitable for use in organic synthesis, where it can be modified to create complex molecules for further research and drug development. The compound's properties also make it useful in the preparation of dyes and pigments, contributing to applications in the textile and printing industries.