Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents and antipsychotic drugs. Its structure supports the creation of complex heterocyclic systems found in bioactive molecules. Commonly employed in medicinal chemistry for scaffold modification and structure-activity relationship studies. Also utilized in the preparation of fluorescent probes due to its favorable photophysical properties. Plays a role in the design of kinase inhibitors and other enzyme-targeted therapeutics.