Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of cholinesterase inhibitors and nootropic agents. It plays a role in the production of compounds that enhance cognitive function and treat neurodegenerative disorders. Also utilized in agrochemical formulations for the creation of selective herbicides due to its ability to interfere with plant growth regulation. Its structure supports derivatization for use in medicinal chemistry research, especially in designing molecules with central nervous system activity.