This chemical is primarily utilized in the development of advanced organic compounds, particularly in the synthesis of complex molecules for pharmaceutical research. Its unique structure makes it valuable in creating intermediates for drugs targeting neurological disorders, as it can interact with specific receptors in the brain. Additionally, it is employed in material science for designing light-sensitive polymers, which are used in coatings and adhesives that respond to UV light. Its role in organic synthesis also extends to the production of specialized dyes and pigments for industrial applications.