It is widely used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs). The compound plays a key role in the production of drugs targeting neurological disorders, such as Parkinson’s disease, due to its structural compatibility with bioactive molecules. Additionally, it is utilized in the preparation of agrochemicals, contributing to the creation of herbicides and pesticides with enhanced efficacy. Its unique structure allows for selective functionalization, making it valuable in organic synthesis for constructing complex molecules. Researchers also employ it in the development of fluorescent probes and imaging agents for biological studies, leveraging its ability to interact with specific cellular targets.