Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of nicotinic receptor agonists and antagonists. Plays a role in the development of drugs targeting neurological disorders such as Alzheimer's and Parkinson's disease. Also utilized in agrochemicals for the creation of novel pesticides due to its ability to enhance binding selectivity in bioactive molecules. Its aldehyde functionality allows for easy derivatization, making it valuable in combinatorial chemistry and drug discovery research.