AG 555 is primarily used in research settings as a selective inhibitor of insulin receptor tyrosine kinase. It is commonly employed to study insulin signaling pathways and glucose metabolism in cellular and biochemical assays. Due to its ability to modulate insulin receptor activity, AG 555 is useful in investigating conditions related to insulin resistance, such as type 2 diabetes. It also serves as a tool compound in cancer research, where altered insulin and insulin-like growth factor signaling play a role in tumor growth and proliferation. Its application is largely confined to laboratory studies and is not used in clinical or therapeutic contexts.