Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its structure allows for easy functionalization, making it valuable in creating compounds with biological activity. Also employed in the preparation of heterocyclic compounds for use in medicinal chemistry research. Shows potential in the design of kinase inhibitors and other targeted therapies. Additionally, utilized in the development of fluorescent probes and sensors due to its ability to form stable complexes with metal ions.