This chemical is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive compounds, particularly those targeting neurological and psychiatric disorders. Its structural framework is valuable in designing molecules that interact with specific receptors in the brain, making it a potential candidate for developing drugs to treat conditions like anxiety, depression, and insomnia. Additionally, it is explored in the creation of novel therapeutic agents due to its ability to modulate biological pathways effectively. Researchers also investigate its potential in agrochemical applications, particularly in developing new pesticides or herbicides, owing to its unique chemical properties.