Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the production of various drugs. It is particularly valuable in the development of local anesthetics and antiarrhythmic medications, where its structural properties contribute to the desired pharmacological effects. Additionally, it finds application in organic chemistry research as a building block for more complex molecules, aiding in the study of chemical reactions and mechanisms. Its role in the creation of specialty chemicals for industrial applications also highlights its versatility in different chemical processes.