Used as a key intermediate in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions, enabling the formation of biaryl and styrene derivatives. Its triflate group acts as a highly reactive leaving group, facilitating palladium-catalyzed transformations in pharmaceutical and agrochemical research. The nitrile functionality allows further modification, such as reduction to amines or conversion to tetrazoles, making it valuable in the development of bioactive molecules. Commonly employed in the synthesis of liquid crystals, functional materials, and complex aromatic systems where precise substitution patterns are required.