This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting neurological and cardiovascular disorders. Its structure is often exploited in the design of receptor ligands, aiding in the study of neurotransmitter systems and potential therapeutic agents. Additionally, it finds application in the preparation of compounds with potential anti-inflammatory and analgesic properties, contributing to the development of novel pain management solutions. Its role in organic synthesis also extends to the production of fine chemicals used in advanced material science and agrochemical research.