Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of selective kinase inhibitors for cancer treatment. Its structure allows for selective functionalization, making it valuable in creating biologically active molecules. Commonly employed in cross-coupling reactions such as Suzuki and Negishi couplings to build complex aromatic systems in drug discovery. Also utilized in the preparation of fluorescent probes and materials for organic electronics due to its electron-rich heterocyclic core.