Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and anticancer agents. Its structure allows for selective modification, making it valuable in medicinal chemistry for designing compounds that target specific cellular pathways. Also employed in the preparation of fluorescent probes due to its favorable photophysical properties, useful in biochemical imaging and assay technologies. Commonly utilized in research settings for structure-activity relationship (SAR) studies within heterocyclic compound libraries.