This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure allows for the creation of compounds that interact with specific receptors in the brain, making it valuable in the design of drugs for conditions such as depression, anxiety, and schizophrenia. Additionally, it is employed in the development of novel therapeutic agents due to its ability to act as a building block for more complex chemical entities. Its versatility in organic synthesis also makes it useful in the production of agrochemicals, contributing to the creation of new pesticides or herbicides. Researchers often leverage its reactivity to introduce functional groups that enhance the efficacy of the final product.