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 binding in biological systems, making it valuable in medicinal chemistry research. Also employed in the preparation of fluorescent dyes and optoelectronic materials due to its conjugated aromatic system. Commonly utilized in cross-coupling reactions such as Suzuki and Buchwald-Hartwig to build complex molecules for drug discovery and material science applications.