Used as a key intermediate in the synthesis of tyrosine kinase inhibitors, particularly in the development of anticancer agents. Its structure allows for selective modification to enhance binding affinity to enzyme targets involved in tumor growth signaling pathways. Commonly employed in pharmaceutical research for constructing complex heterocyclic systems found in bioactive molecules. Also utilized in the preparation of serotonin reuptake inhibitors and other central nervous system active compounds due to its ability to mimic aromatic amino acid motifs.