Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of compounds with potential antitumor and antimicrobial activities. Its structure allows for easy functionalization in cross-coupling reactions, making it valuable in medicinal chemistry for building complex heterocyclic systems. Commonly employed in Suzuki and Heck reactions to generate diverse compound libraries for biological screening. Also utilized in the preparation of fluorescent probes and optoelectronic materials due to its conjugated aromatic framework.