Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of potential drug candidates targeting neurological disorders, due to its ability to interact with specific receptors in the brain. Additionally, it is employed in the development of agrochemicals, where it contributes to the design of new pesticides and herbicides. Its versatility in organic synthesis also makes it useful in the production of fine chemicals and specialty materials.