Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anxiolytic and sedative agents. It serves as a building block for compounds that interact with benzodiazepine receptors. Also employed in agrochemicals to create novel pesticides and fungicides due to its bioactive properties. Its structure enhances binding affinity in drug design, making it valuable in medicinal chemistry research. Additionally, it is used in the preparation of fluorescent probes and materials for optoelectronic applications.