Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and anxiolytic agents. Its structure enables functionalization at multiple sites, making it valuable in medicinal chemistry for creating compound libraries in drug discovery. It is also employed in the preparation of fluorescent probes and organic semiconductors due to its electron-rich heterocyclic core. Commonly utilized in cross-coupling reactions such as Suzuki and Buchwald-Hartwig to build complex molecules for research and industrial applications.