Used primarily in the synthesis of pharmaceuticals, this compound plays a key role in the development of drugs targeting neurological and cardiovascular systems. Its structure allows it to interact effectively with various receptors, making it valuable in creating medications for conditions like hypertension and anxiety. Additionally, it serves as an intermediate in organic synthesis, aiding in the production of complex molecules for research and therapeutic applications. Its versatility also extends to the field of agrochemicals, where it contributes to the formulation of compounds that enhance crop protection and yield.