Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of bioactive molecules with potential antidepressant and neuroprotective properties. Its structure serves as a scaffold in medicinal chemistry for designing compounds that interact with central nervous system receptors. Also employed in the preparation of fluorescent probes and labeling agents due to its ability to form stable derivatives with detectable emission properties. Additionally, it finds use in agrochemical research for creating novel herbicides and plant growth regulators.