Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of drugs targeting the central nervous system, where its structural properties facilitate the creation of molecules with specific receptor-binding capabilities. Additionally, it is employed in the synthesis of agrochemicals, contributing to the formulation of pesticides and herbicides that require precise chemical interactions to be effective. Its role in catalysis is also noteworthy, as it can act as a ligand in metal-catalyzed reactions, enhancing the efficiency and selectivity of these processes.