Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and anxiolytic agents. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for creating biologically active molecules. Commonly employed in cross-coupling reactions such as Suzuki and Heck reactions to build complex heterocyclic systems. Also utilized in the preparation of fluorescent probes and optoelectronic materials due to its conjugated aromatic framework.