Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure enables functionalization at multiple sites, making it valuable in medicinal chemistry for creating analogs with enhanced biological activity. It is also employed in research settings to design new central nervous system agents due to its ability to cross the blood-brain barrier. Additionally, it serves as a building block in the preparation of fluorescent probes and optoelectronic materials owing to its aromatic and electron-rich characteristics.