Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and anti-inflammatory agents. Its structure allows for selective modification, making it valuable in medicinal chemistry for optimizing drug potency and bioavailability. Commonly employed in research settings to design analogs targeting specific enzyme pathways. Also utilized in the preparation of fluorescent probes due to its phenolic and amine functionalities, which can be tailored for sensor applications in biochemical assays.