This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the development of drugs targeting neurological disorders, such as anxiety and depression, due to its ability to interact with specific receptors in the brain. Additionally, it is employed in the creation of compounds with potential anti-inflammatory and analgesic properties, making it a versatile component in medicinal chemistry research. Its applications also extend to agrochemicals, where it is used in the design of pesticides and herbicides, contributing to crop protection and agricultural productivity.