Used as a key intermediate in organic synthesis, particularly in the preparation of complex naphthalene derivatives. Its trifluoromethanesulfonate group makes it highly reactive in cross-coupling reactions, enabling the formation of carbon-carbon bonds. This compound is valuable in pharmaceutical research for developing active pharmaceutical ingredients (APIs) and in material science for creating advanced polymers and organic electronic materials. Its cyano group further enhances its utility in constructing heterocyclic compounds, which are essential in drug discovery and agrochemical development.