Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anxiolytic and sedative agents. It serves as a building block in the preparation of imidazopyridine-based drugs, such as alpidem and zolpidem, which act on benzodiazepine receptors for treating anxiety and insomnia. Its structure enables efficient derivatization, making it valuable in medicinal chemistry for optimizing drug candidates. Also employed in the creation of fluorescent probes and sensors due to its favorable photophysical properties, useful in biochemical imaging and diagnostics.