This compound is primarily utilized in the synthesis of various organic molecules, particularly in the pharmaceutical and fragrance industries. In pharmaceuticals, it serves as a key intermediate in the production of certain psychoactive drugs and therapeutic agents, often contributing to the structural framework of compounds targeting the central nervous system. In the fragrance industry, it is valued for its ability to impart unique aromatic properties, often used in the formulation of perfumes and scented products. Additionally, it finds application in research and development for creating novel chemical entities with potential biological activity.