This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in pharmaceutical research and development. It serves as a key intermediate in the production of various active pharmaceutical ingredients (APIs), especially those targeting neurological and cardiovascular diseases. Its structure allows for the introduction of functional groups that are crucial for the biological activity of the final compounds. Additionally, it is employed in the preparation of ligands for catalytic systems, aiding in the development of efficient and selective chemical reactions. Its stability and reactivity make it a valuable component in medicinal chemistry and organic synthesis.