Primarily used in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure allows for the development of drugs targeting neurological disorders, including those used in the treatment of depression and anxiety. Additionally, it is utilized in agrochemical research for creating pesticides and herbicides, where its chemical properties help in designing compounds that are effective against a broad spectrum of pests and weeds. Its role in these fields underscores its importance in advancing both medical and agricultural sciences.