It is primarily used in pharmaceutical research as a key intermediate in the synthesis of various biologically active compounds. Its structure is valuable in developing drugs targeting neurological disorders, particularly those involving the central nervous system. Additionally, it serves as a building block in the creation of potential anticancer agents, leveraging its ability to interact with specific cellular pathways. In the field of agrochemicals, it is explored for designing novel pesticides due to its stability and reactivity. Its applications also extend to material science, where it is utilized in the development of advanced organic electronic materials.