This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the production of various pharmaceuticals and agrochemicals. Its unique structure makes it a valuable building block for creating complex molecules, particularly in the development of drugs targeting neurological disorders. Additionally, it is employed in the synthesis of specialty chemicals used in materials science, contributing to the creation of advanced polymers and coatings with enhanced properties. Its applications also extend to research laboratories, where it is used as a reagent in studies exploring new chemical reactions and pathways.