Used primarily in pharmaceutical research, this compound serves as an intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of drugs targeting the central nervous system, where its structure can be modified to enhance binding affinity to specific receptors. Additionally, it finds application in the study of enzyme inhibition, aiding in the discovery of new therapeutic agents for neurological disorders. Its nitro group also makes it a useful precursor in the preparation of dyes and other organic compounds.