Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of antihypertensive drugs and other bioactive molecules. It also serves as a building block in the development of agrochemicals, including herbicides and plant growth regulators. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for creating libraries of compounds during drug discovery. Additionally, it can act as a ligand or catalyst in certain organic reactions, supporting its role in industrial and laboratory-scale chemical processes.