Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective functionalization, making it valuable in creating biologically active compounds. Commonly employed in cross-coupling reactions such as Suzuki or Buchwald-Hartwig aminations to build complex heterocyclic systems found in drug candidates. Also utilized in research settings for the preparation of neuroactive agents due to its resemblance to certain central nervous system receptor ligands.