Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its structure allows for further functionalization through cross-coupling reactions, such as Suzuki or Heck reactions, making it valuable in the development of complex aromatic compounds. Commonly employed in the synthesis of naphthalene-based derivatives with potential biological activity, including antitumor and anti-inflammatory agents. Also utilized in materials science for constructing organic semiconductors and fluorescent dyes due to the extended aromatic system that enhances electronic properties.