This chemical is primarily used in the synthesis of various pharmaceutical compounds, particularly those targeting neurological and cardiovascular diseases. Its structure allows it to act as a key intermediate in the production of ligands for receptor modulation, which is crucial in drug development. Additionally, it is employed in the creation of organic light-emitting diodes (OLEDs) due to its ability to form stable, luminescent complexes. In material science, it serves as a building block for designing polymers and coatings with specific electronic properties. Its versatility also extends to agrochemical research, where it aids in developing new pesticides and herbicides by acting as a precursor in synthetic pathways.