Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of nitrogen-containing heterocyclic compounds. Its structure supports the construction of bioactive molecules, making it valuable in medicinal chemistry for creating potential antitumor, antimicrobial, and anti-inflammatory agents. Also employed in materials science for designing organic semiconductors and fluorescent dyes due to its extended aromatic system. Commonly utilized in cross-coupling reactions such as Suzuki and Heck reactions to build complex aromatic frameworks.