Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its structure supports the creation of bioactive molecules with improved metabolic stability and receptor binding. Also employed in the preparation of novel heterocyclic compounds for medicinal chemistry research. Shows utility in agrochemicals for designing herbicides and plant growth regulators due to its aromatic and oxygen-containing ring system.