Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the development of compounds targeting neurological disorders, as it can influence neurotransmitter systems. Additionally, it is employed in the creation of ligands for receptor studies, aiding in the understanding of receptor-ligand interactions. Its applications also extend to material science, where it is utilized in the preparation of organic semiconductors and conductive polymers.