Used extensively in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting neurological disorders. Its unique structure allows for versatile modifications, making it valuable in the development of novel therapeutic agents. In material science, it is employed in the creation of organic semiconductors and light-emitting diodes (LEDs), contributing to advancements in electronic devices. Additionally, it plays a role in agrochemical research, aiding in the design of new pesticides and herbicides with improved efficacy and environmental safety. Its reactivity also makes it useful in cross-coupling reactions, facilitating the construction of complex organic molecules in academic and industrial laboratories.