Used as a key intermediate in the synthesis of biologically active compounds, particularly in pharmaceutical research. It plays a significant role in the development of kinase inhibitors, which are important in targeted cancer therapies. The compound's structure allows for selective modification, making it valuable in medicinal chemistry for designing drugs with improved potency and selectivity. It is also employed in the preparation of indazole-based derivatives that exhibit anti-inflammatory, antimicrobial, and antiproliferative activities. Its utility in combinatorial chemistry and high-throughput screening further supports drug discovery efforts.