Used in pharmaceutical research as a key intermediate in the synthesis of kinase inhibitors, particularly for targeting protein kinases involved in cancer and inflammatory diseases. Its structure allows for selective modification, making it valuable in developing bioactive molecules. Also employed in the preparation of fluorescent probes for biochemical assays due to its favorable photophysical properties. Commonly utilized in cross-coupling reactions, such as Suzuki and Heck reactions, to build complex heterocyclic systems for drug discovery.