Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of anxiolytic and sedative agents. Its structure allows for selective binding to benzodiazepine receptors, making it valuable in central nervous system drug research. Commonly employed in cross-coupling reactions to build more complex heterocyclic systems for drug discovery. Also utilized in the preparation of kinase inhibitors and antimicrobial agents due to its favorable reactivity and stability in various reaction conditions.