Primarily utilized in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its unique structure allows it to act as a building block for the development of drugs targeting neurological disorders, including potential treatments for Alzheimer's disease and other cognitive impairments. Additionally, it finds application in the creation of agrochemicals, where it contributes to the formulation of pesticides and herbicides, enhancing their efficacy in crop protection. In material science, it is employed in the synthesis of organic electronic materials, which are essential for the production of flexible displays and solar cells. Its versatility also extends to the field of organic synthesis, where it is used in the preparation of complex molecules for research and industrial purposes.