Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of drugs targeting central nervous system disorders, such as anxiety and depression. Its structure allows for modifications that enhance binding affinity to specific receptors, making it a versatile building block in medicinal chemistry. Additionally, it is employed in the creation of agrochemicals, contributing to the development of new pesticides and herbicides. Its role in these applications underscores its importance in advancing both human health and agricultural productivity.