Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective modification, making it valuable in medicinal chemistry for creating analogs with enhanced biological activity. Commonly employed in research settings to design drugs targeting inflammatory diseases and neurodegenerative disorders due to its ability to interact with specific enzyme pathways. Also utilized in the preparation of fluorescent probes for biochemical assays, aiding in the study of cellular processes.