This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of certain drugs, especially those targeting neurological and cardiovascular conditions. Its structure allows for further chemical modifications, making it valuable in the development of active pharmaceutical ingredients (APIs). Additionally, it is employed in research settings for studying chemical reactions and mechanisms, aiding in the discovery of new therapeutic agents. Its stability and reactivity make it a versatile component in organic synthesis and drug development processes.