Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for constructing complex heterocyclic systems. Also employed in materials science for the preparation of organic semiconductors and fluorescent dyes due to its electron-deficient aromatic core and stability. Common in cross-coupling reactions like Suzuki and Heck reactions to build biaryl and styrene derivatives for research and industrial applications.