Used in pharmaceuticals as a key scaffold in the development of bioactive compounds, particularly in the synthesis of kinase inhibitors and central nervous system agents. Its structure supports high binding affinity to various enzyme targets, making it valuable in drug discovery for treating neurological disorders and certain cancers. Also employed in agrochemicals to enhance the efficacy of crop protection agents due to its stability and reactivity. Additionally, it serves as an intermediate in the production of fluorescent dyes and optoelectronic materials.