Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and anticancer agents. Its structure supports the formation of complex heterocyclic compounds that exhibit biological activity, making it valuable in medicinal chemistry research. Also employed in the preparation of fluorescent probes for biochemical assays due to its ability to form stable derivatives with detectable emission properties. Commonly utilized in cross-coupling reactions to build more complex molecules in drug discovery programs.