Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) with central nervous system activity. It serves as a building block in the production of antipsychotic, antidepressant, and antihistamine drugs due to its ability to act as a ligand for various receptors. Also employed in the preparation of agrochemicals and specialty polymers. Its reactivity and solubility profile make it suitable for use in organic synthesis and catalysis processes.