Used in pharmaceuticals as a key scaffold in the development of anxiolytic and sedative agents due to its affinity for benzodiazepine receptors. Found in compounds with antimicrobial and antiviral properties, making it valuable in medicinal chemistry. Also employed in the synthesis of kinase inhibitors for cancer research. Its luminescent derivatives are applied in organic light-emitting diodes (OLEDs) and fluorescent sensors. Serves as a building block in agrochemicals for crop protection agents.