Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting the central nervous system. It plays a role in the production of compounds with potential antipsychotic or antidepressant properties. Additionally, it is utilized in the creation of specialty chemicals for research and industrial applications, including the development of corrosion inhibitors and surfactants. Its unique structure allows for versatility in organic synthesis, making it valuable in producing complex molecules for various therapeutic and industrial purposes.