Used primarily in organic synthesis, it serves as a versatile intermediate for the preparation of various pharmaceutical compounds. Its structure is particularly valuable in the development of drugs targeting neurological disorders, as it can be incorporated into molecules that interact with neurotransmitter systems. Additionally, it is employed in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides. Its role in the production of fine chemicals and specialty materials also makes it significant in industrial applications. The compound’s stability and reactivity under different conditions make it a preferred choice for researchers in medicinal chemistry and material science.