Used in pharmaceutical research as a key intermediate in the synthesis of bioactive molecules, particularly in the development of kinase inhibitors and central nervous system agents. Its structure supports the design of compounds targeting neurological disorders and certain cancers. Also employed in the preparation of fluorescent probes due to its favorable photophysical properties, enabling applications in cellular imaging and molecular labeling. Commonly utilized in cross-coupling reactions, such as Suzuki and Buchwald-Hartwig, to build complex heterocyclic systems for drug discovery.