Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of active ingredients for central nervous system drugs. Its structure serves as a building block in creating compounds with neurological activity, including antidepressants and antipsychotics. Also employed in the preparation of specialty polymers and agrochemicals due to its reactivity and solubility properties. Commonly utilized in research settings for heterocyclic compound development and in the creation of chiral auxiliaries for asymmetric synthesis.