Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and anticancer agents. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for constructing nitrogen-containing heterocycles. It is also employed in the preparation of fluorescent probes and optoelectronic materials due to its extended aromatic system and ability to undergo cross-coupling reactions. Commonly utilized in research settings for building complex molecules in drug discovery programs.