Used primarily in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting neurological disorders, where its unique structure contributes to the efficacy and stability of the final product. Additionally, it finds application in agricultural chemistry, aiding in the creation of novel pesticides that offer enhanced protection against pests while minimizing environmental impact. Its role in these fields underscores its importance in advancing both human health and agricultural productivity.