This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure is often incorporated into compounds designed to modulate specific receptors or enzymes in the brain, making it valuable for the creation of potential therapeutic agents. Additionally, it is explored in the development of agrochemicals, where its derivatives may act as effective pesticides or herbicides. Its unique chemical properties also make it a candidate for use in organic synthesis and material science, particularly in the design of novel compounds with specific functionalities.