Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders and anti-inflammatory agents. Its structure allows for easy functionalization, making it valuable in creating biologically active molecules. It is also employed in the preparation of agrochemicals, including pesticides and herbicides, due to its ability to enhance the efficacy of active ingredients. Additionally, it serves as a building block in the production of dyes and functional materials in organic electronics.