This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of drugs targeting neurological and cardiovascular conditions. Its structure makes it a valuable precursor in the production of active pharmaceutical ingredients (APIs) that exhibit therapeutic effects. Additionally, it is employed in organic synthesis for creating complex molecules used in medicinal chemistry research. The compound also finds application in the production of dyes and pigments, where its chemical properties contribute to the stability and color intensity of the final products. In research laboratories, it is often used as a reagent in various chemical reactions to study reaction mechanisms and develop new synthetic pathways.