Used primarily as an intermediate in organic synthesis, especially in the preparation of pharmaceuticals and bioactive molecules. Its structure allows for further functionalization through cross-coupling reactions, making it valuable in the development of complex aromatic compounds. Commonly employed in research settings for the synthesis of naphthalene-based derivatives with potential medicinal properties, including anti-inflammatory and anticancer agents. Also utilized in the formation of ligands for metal-catalyzed reactions, aiding in the advancement of catalytic methodologies in synthetic chemistry.