Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and anxiolytic agents. Its structure allows for selective modifications, making it valuable in medicinal chemistry for creating bioactive molecules. It is also employed in research for developing new central nervous system (CNS) active drugs due to its affinity for benzodiazepine receptors. Additionally, it serves as a building block in the preparation of fluorescent probes and agrochemicals.