Used primarily in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. It plays a crucial role in the development of drugs targeting neurological disorders, including potential treatments for Alzheimer's disease and other cognitive impairments. Additionally, it is employed in the creation of agrochemicals, particularly in the formulation of pesticides and herbicides, due to its ability to enhance the efficacy and stability of these products. Its unique structure also makes it valuable in organic synthesis for constructing complex molecules in medicinal chemistry research.