Primarily utilized in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of potential therapeutic agents targeting neurological disorders, due to its ability to interact with specific receptors in the brain. Additionally, it is employed in organic synthesis to create complex indoline derivatives, which are explored for their anti-inflammatory and anticancer properties. The compound's unique chemical properties also make it a candidate for use in agrochemical research, aiding in the development of new pesticides and herbicides.