This chemical is primarily utilized in the synthesis of various pharmaceuticals and organic compounds. It serves as a key intermediate in the production of drugs, particularly those targeting neurological and cardiovascular conditions. Its structure allows for effective modification, making it valuable in creating complex molecules with specific therapeutic properties. Additionally, it is employed in the development of fragrances and flavoring agents due to its aromatic characteristics. In research, it is often used as a building block in organic chemistry to explore new reactions and pathways for drug discovery.