Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. It is also employed in the production of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system (CNS) active compounds. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for creating libraries of bioactive molecules during drug discovery. Additionally, it serves as a building block in the preparation of fused heterocyclic systems with potential antiviral and anti-inflammatory properties.