Used as a key intermediate in the synthesis of pharmaceuticals and biologically active compounds, particularly in the development of kinase inhibitors and anti-inflammatory agents. Its structure supports conjugation in organic semiconductors, making it valuable in materials science for optoelectronic devices. Also employed in the preparation of dyes and fluorescent probes due to its aromatic and electron-rich properties. Commonly utilized in research settings for building complex heterocyclic systems through palladium-catalyzed couplings and nucleophilic additions.