Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure allows it to be incorporated into compounds targeting neurological disorders, particularly those involving modulation of neurotransmitter systems. Additionally, it finds application in the development of diagnostic agents due to its ability to bind specific receptors or enzymes. In material science, it can be utilized to modify surface properties or create functionalized polymers with enhanced characteristics. Its versatility makes it valuable in both medicinal chemistry and advanced material design.