Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders. Its structure is valuable in creating compounds with potential anti-inflammatory and analgesic properties. Additionally, it is utilized in research for designing new chemical entities with applications in treating cardiovascular diseases. Its role in the synthesis of heterocyclic compounds also makes it significant in agrochemical development, contributing to the creation of pesticides and herbicides.