Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure supports the formation of complex heterocyclic systems, making it valuable in medicinal chemistry for designing bioactive molecules. Also employed in the preparation of fluorescent probes due to its ability to participate in condensation reactions that yield optically active compounds. Commonly utilized in research settings for building blocks in drug discovery and in the development of novel organic materials.