Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) for drugs targeting central nervous system disorders and anti-inflammatory agents. It serves as a building block in the preparation of heterocyclic compounds, including benzoxazoles and quinazolines, which are common scaffolds in medicinal chemistry. Its functional groups enable selective reactions for coupling and cyclization, making it valuable in research and development of novel therapeutic compounds. Also employed in the production of dyes and fluorescent probes due to its aromatic structure and reactivity.