Primarily utilized in pharmaceutical research, it serves as a key intermediate in the synthesis of various bioactive compounds. Its structure is particularly valuable in developing drugs targeting neurological disorders, including antidepressants and antipsychotics. Additionally, it finds application in the creation of ligands for receptor studies, aiding in the understanding of biochemical pathways. In material science, it contributes to the development of polymers with specific electronic properties, useful in advanced technological applications. Its versatility also extends to catalysis, where it enhances the efficiency of certain chemical reactions.