Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. It serves as a building block in the preparation of bioactive molecules due to its ability to form stable amide and amine derivatives. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for drug discovery and optimization. Also employed in the creation of fluorescent probes and dyes owing to its favorable photophysical properties when incorporated into conjugated systems.