Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) agents. It plays a role in the preparation of selective monoamine oxidase inhibitors (MAOIs) and other neuroactive compounds. Its structure enables functionalization at multiple sites, making it valuable in medicinal chemistry for building bioactive molecules. Also utilized in the creation of fluorescent probes and dyes due to its aromatic and heterocyclic nature, supporting applications in imaging and diagnostics.