Used primarily as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective functionalization, making it valuable in creating analogs for structure-activity relationship (SAR) studies. It is also employed in the preparation of fluorescent probes due to its electron-withdrawing properties and ability to form stable derivatives with detectable optical signals. Commonly utilized in medicinal chemistry research for optimizing drug candidates targeting neurological disorders and inflammation.