Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its structure supports the creation of bioactive molecules with potential antidepressant, antipsychotic, or anti-migraine activity. Also employed in the preparation of dyes and fluorescent probes due to its aromatic and electron-rich framework. Commonly utilized in research settings for building complex heterocyclic systems in medicinal chemistry.