Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anxiolytic and sedative agents. It serves as a core structure in some benzodiazepine-like compounds, contributing to binding affinity at GABA receptors. Also employed in the preparation of kinase inhibitors and other bioactive molecules in medicinal chemistry research. Its derivatives are explored for potential therapeutic effects in neurological disorders. Additionally, it finds use in the design of fluorescent probes and sensors due to its favorable photophysical properties.