Used primarily in pharmaceutical research, it serves as a key intermediate in the synthesis of various biologically active compounds. Its structure is valuable in developing drugs targeting neurological disorders, particularly those involving modulation of neurotransmitter systems. Additionally, it is employed in organic synthesis to create complex molecules for material science applications, including the development of advanced polymers and coatings. Its ethynyl group allows for versatile chemical modifications, making it a useful building block in medicinal chemistry and industrial applications.