Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the creation of drugs targeting neurological disorders, as it can be modified to interact with specific receptors in the brain. Additionally, it finds application in the development of agrochemicals, where it contributes to the formulation of pesticides and herbicides. Its versatility also extends to material science, where it is utilized in the synthesis of specialized polymers and coatings.