Primarily utilized in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly significant in the development of active pharmaceutical ingredients (APIs) for medications targeting neurological and psychiatric disorders. Additionally, it finds application in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides. Its role in research and development is also notable, where it is employed in the study of chemical reactions and the creation of novel compounds with potential therapeutic properties.