Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting neurological and psychiatric disorders. Its structure allows for the creation of compounds that interact with specific receptors in the brain, aiding in the treatment of conditions like depression and anxiety. Additionally, it finds application in the synthesis of fine chemicals and agrochemicals, contributing to the development of pesticides and herbicides. Its versatility in chemical reactions makes it valuable in research and industrial processes.