Used as a key intermediate in pharmaceutical synthesis, particularly in the development of serotonin receptor modulators. Its structure supports the creation of bioactive molecules with potential applications in treating neurological and psychiatric disorders. Also employed in agrochemicals to enhance the stability and efficacy of certain crop protection agents. Additionally, it serves as a building block in materials science for designing corrosion inhibitors and light-stable compounds in specialty polymers. Furthermore, it is under research as a starting material for creating ligands in transition metal complexes for organic catalysis processes.