This compound is primarily utilized in the synthesis of various pharmaceutical agents due to its hydrazine functional group, which is reactive and can form hydrazones or other derivatives. It serves as a key intermediate in the development of drugs targeting central nervous system disorders, including potential antipsychotic and antidepressant medications. Additionally, it is employed in organic chemistry research for the preparation of complex molecules, particularly in the construction of piperidine-based scaffolds, which are common in medicinal chemistry. Its role in chemical synthesis also extends to the creation of ligands for metal coordination studies, aiding in the development of catalysts or materials with specific properties.