Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of kinase inhibitors and other biologically active compounds. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for building complex heterocyclic systems. Also employed in the preparation of fluorescent dyes and optical brighteners due to its ability to participate in coupling reactions and form stable derivatives. Commonly utilized in research settings for designing new drug candidates targeting inflammatory and oncological pathways.