Used primarily as a reagent in organic synthesis, this compound is particularly valuable in cross-coupling reactions, such as the Suzuki-Miyaura and Buchwald-Hartwig reactions, where it serves as a naphthyl group donor. Its trifluoromethanesulfonate group is an excellent leaving group, facilitating the formation of carbon-carbon and carbon-heteroatom bonds. It is also employed in the preparation of naphthalene derivatives, which are important intermediates in pharmaceuticals, agrochemicals, and materials science. Additionally, its stability and reactivity make it a useful tool in the development of complex organic molecules for research and industrial applications.