This compound is primarily utilized in the synthesis of various pharmaceutical agents, particularly in the development of drugs targeting the central nervous system. It serves as a key intermediate in the production of compounds with potential antidepressant and anxiolytic properties. Additionally, it is employed in research settings for the preparation of hydrazine derivatives, which are studied for their biological activities, including antimicrobial and anticancer effects. Its role in organic synthesis also extends to the creation of complex molecules for further pharmacological evaluation.