Used as a key 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 medicinal chemistry for building heterocyclic compounds. Commonly employed in the preparation of kinase inhibitors and other biologically active molecules. Also utilized in research settings for the design of novel drug candidates targeting central nervous system disorders. Additionally, it serves as a starting material for the synthesis of fluorescent compounds or optical materials, due to its structure's ability to absorb and emit light at specific wavelengths, offering potential applications in chemical sensors or organic electronic devices.