Widely used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting central nervous system disorders. Its structural framework is valuable in developing compounds with potential anti-anxiety, anti-inflammatory, and antimicrobial properties. Additionally, it plays a role in agrochemical applications, contributing to the creation of novel pesticides and herbicides. Its versatility also extends to material science, where it is explored for use in organic electronic materials and fluorescent probes.