Used in pharmaceutical research as a key intermediate in the synthesis of biologically active compounds, particularly kinase inhibitors and anti-inflammatory agents. Shows potential in the development of treatments for neurodegenerative diseases due to its ability to cross the blood-brain barrier and exhibit neuroprotective effects. Also employed in the design of fluorescent probes for biochemical imaging, leveraging its strong photoluminescent properties in sensor applications. Investigated for anticancer activity, especially in targeting specific tumor cell lines through apoptosis induction.