Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of compounds targeting neurological disorders, as it can be modified to interact with specific receptors in the brain. Additionally, it is employed in the development of potential anticancer agents, where its derivatives are tested for their ability to inhibit tumor growth. The compound is also explored in the field of agrochemicals for designing novel pesticides, leveraging its unique chemical framework to enhance efficacy and selectivity.