Used in pharmaceutical research as a scaffold for developing bioactive molecules, showing potential in the design of kinase inhibitors, antimicrobial, antiviral, and anticancer agents. Some derivatives can inhibit enzymes involved in inflammation and chronic diseases, making it a key structure for new drug design. Studied for its role in central nervous system drug discovery due to structural similarity to known neuroactive compounds. Also used as a starting material for synthesizing complex compounds in the laboratory. Additionally, explored in materials science for fluorescent properties in organic semiconductors.