Used primarily as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and other bioactive molecules. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for constructing complex heterocyclic systems. It is also employed in research settings to explore new pathways in organic synthesis, especially in reactions involving nitro-group transformations or chlorine displacement. Due to the presence of both electron-withdrawing groups and a reactive hydroxyl function, it serves as a versatile building block in the preparation of fluorescent probes and agrochemicals.