Used primarily as a key intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of kinase inhibitors and other medicinal agents targeting inflammatory and oncological pathways. Its aldehyde functional group allows for versatile chemical modifications, enabling the formation of imines, alcohols, or carboxylic acid derivatives, which are valuable in drug design. Commonly employed in research settings for constructing indazole-based scaffolds known for their metabolic stability and receptor binding affinity. Also utilized in the preparation of fluorescent probes and agrochemicals due to its aromatic structure and reactivity.