This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of active ingredients for medications targeting neurological disorders, due to its ability to interact with specific receptors in the brain. Additionally, it finds application in the synthesis of herbicides and pesticides, where it contributes to the creation of compounds that are effective in controlling weed growth and pest populations. The compound's versatility in chemical reactions also makes it a useful building block in the creation of complex molecules for research and industrial purposes.