Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of drugs targeting neurological disorders and cancer due to its unique structural properties. Additionally, it finds application in organic synthesis, where it acts as a building block for more complex molecules, including agrochemicals and specialty chemicals. Its functional groups allow for versatile chemical modifications, making it a useful component in the creation of novel compounds with potential therapeutic or industrial applications.