This chemical is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active compounds, particularly those targeting neurological and psychiatric disorders. Its structure allows for the creation of molecules that can 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 imaging agents used in diagnostic procedures to study brain function and receptor activity. Its versatility in organic synthesis also makes it a useful component in the production of agrochemicals and other specialty chemicals.