Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure enables selective functionalization, making it valuable in constructing complex heterocyclic systems found in bioactive molecules. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to introduce aryl or vinyl groups, facilitating the creation of diverse compound libraries for drug discovery. Also utilized in the preparation of serotonin receptor modulators and antiviral agents due to its ability to mimic natural heterocyclic scaffolds in biological systems.