This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its unique structure allows it to participate in reactions that form complex molecules, particularly those with potential therapeutic properties. Researchers often employ it in the development of new drugs targeting neurological disorders, due to its ability to interact with specific receptors in the brain. Additionally, it finds application in the synthesis of agrochemicals, contributing to the creation of compounds that enhance crop protection and yield. Its versatility and reactivity make it a valuable component in advancing both medicinal and agricultural chemistry.