Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, particularly those targeting central nervous system disorders. Its structure allows for the development of compounds with potential antidepressant and antipsychotic properties. Additionally, it is employed in the synthesis of dyes and pigments, contributing to the coloration of textiles and plastics. In research, it is utilized to study reaction mechanisms and develop new synthetic pathways for complex organic molecules. Its versatility makes it valuable in both industrial and academic settings.