Primarily utilized in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting neurological and cardiovascular conditions. Its structural properties make it valuable for developing compounds with potential anti-inflammatory and analgesic effects. Additionally, it is explored in the creation of chiral molecules, which are crucial for producing enantiomerically pure pharmaceuticals. In agrochemical research, it contributes to the development of herbicides and plant growth regulators. Its versatility also extends to organic synthesis, where it aids in constructing complex molecules for further chemical studies.