Used in pharmaceutical research as a key intermediate in the synthesis of bioactive compounds, particularly in the development of antitumor and antimicrobial agents, including antibacterial and antiviral properties. Shows potential in kinase inhibition by disrupting enzymes involved in cancer cell growth, making it valuable in oncology-related drug discovery. Also employed in the design of novel heterocyclic compounds for medicinal chemistry applications. Additionally, applied in smart materials research and chemical sensors due to its ability to form derivatives with fluorescent properties or responsiveness to environmental conditions.