Used as a key intermediate in the synthesis of fluorescent dyes and bioimaging agents due to its ability to undergo selective functionalization. Its structure supports the development of optical sensors for detecting metal ions and small molecules in environmental and biological systems. Commonly employed in the preparation of heterocyclic compounds with potential pharmacological activity, particularly in neuroscience research for labeling and tracking biomolecules. Also applied in materials science for designing electron-transport layers in organic electronic devices.