Used as a key intermediate in the synthesis of kinase inhibitors, particularly in the development of anticancer agents. Its structure allows for selective modification, making it valuable in medicinal chemistry for targeting specific signaling pathways in tumor cells. Commonly employed in the preparation of small molecule drugs that inhibit tyrosine kinases involved in cell proliferation and survival. Also utilized in the design of fluorescent probes due to its favorable photophysical properties, enabling cellular imaging and biochemical assays.