This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those with potential antimicrobial and anticancer properties. Its structure is often incorporated into more complex compounds designed to target specific enzymes or pathways in disease processes. Researchers also explore its derivatives for their potential to inhibit bacterial DNA gyrase, making it a valuable component in the development of new antibiotics. Additionally, its fluorescence properties are sometimes exploited in biochemical assays for studying molecular interactions and cellular processes.