This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. It serves as a key intermediate in the creation of small molecule inhibitors targeting specific enzymes or proteins involved in disease pathways. Its structural features make it valuable in designing compounds for oncology, where it may be incorporated into molecules that inhibit cancer cell proliferation. Additionally, it is explored in the development of treatments for neurological disorders due to its potential to modulate brain-related biological targets. Researchers also investigate its use in creating fluorescent probes for biochemical assays, aiding in the study of cellular processes.