This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of drugs targeting neurological and cardiovascular conditions. Its unique structure allows it to act as a precursor in the production of compounds that exhibit therapeutic properties. Additionally, it finds application in agrochemical research, where it is used to create pesticides and herbicides with enhanced efficacy. The chemical's ability to undergo various reactions makes it valuable in organic synthesis for constructing complex molecules. It is also employed in biochemical studies to investigate enzyme interactions and metabolic pathways.