Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nicotinamide-based drugs and kinase inhibitors. Its aldehyde and methoxy functional groups allow for selective reactions in heterocyclic chemistry, making it valuable in creating complex drug molecules. Also employed in the preparation of fluorescent probes and sensors due to its ability to form conjugated systems that exhibit detectable optical properties. Commonly utilized in research settings for building blocks in medicinal chemistry and in the design of bioactive compounds with potential anticancer and antimicrobial activity.