Primarily used in pharmaceutical research, 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 and cancer due to its structural properties, which allow for effective interaction with biological targets. Additionally, it is utilized in the preparation of complex molecules for medicinal chemistry studies, aiding in the discovery of new therapeutic agents. Its role in organic synthesis also extends to the creation of specialized chemicals for biochemical research, contributing to advancements in drug development and disease treatment.