Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. It serves as a building block in medicinal chemistry for constructing indazole-based bioactive molecules. Its aldehyde functional group allows for easy derivatization, enabling the formation of imines, oximes, or other carbon-carbon bonds critical in drug design. Also employed in the preparation of agrochemicals and functional materials due to its heterocyclic scaffold.