This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceutical compounds. Its structure makes it valuable for developing molecules with potential therapeutic properties, particularly in the design of drugs targeting neurological disorders. Additionally, it is employed in the synthesis of dyes and pigments, contributing to the coloration of materials in industrial applications. Its role in research extends to the development of novel chemical entities for testing biological activity, making it a versatile component in medicinal chemistry.