This chemical is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active compounds. It serves as a building block for developing small molecule inhibitors, particularly targeting kinases, which play a critical role in cell signaling and regulation. Its structural framework is often incorporated into drug candidates for treating cancers, inflammatory diseases, and other conditions where kinase activity is dysregulated. Additionally, its derivatives are explored for their potential in modulating enzymatic activity, making it valuable in drug discovery and pharmacological research.