Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. It serves as a building block in constructing complex heterocyclic compounds due to its reactive aldehyde group and aromatic core. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for creating libraries of compounds in drug discovery. Also employed in the preparation of organic semiconductors and luminescent materials owing to its electron-transport properties and conjugated system.