Widely used in pharmaceutical research, it serves as a key intermediate in the synthesis of various biologically active compounds. Its structure is particularly valuable in the development of potential therapeutic agents, including those targeting neurological disorders and cancer. In medicinal chemistry, it is employed to design and optimize molecules with enhanced efficacy and selectivity. Additionally, it finds application in organic synthesis, where it acts as a building block for creating complex heterocyclic compounds. Its role in the development of fluorescent dyes and sensors is also noteworthy, contributing to advancements in analytical chemistry and material science.