Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of kinase inhibitors for cancer therapy. Its structure allows for selective modification, making it valuable in creating compounds with anti-tumor activity. Commonly employed in research settings to design molecules targeting epidermal growth factor receptor (EGFR) and other tyrosine kinase pathways. Also utilized in the preparation of fluorescent probes due to its conjugated aromatic system, aiding in cellular imaging and mechanistic studies.