Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective modification, making it valuable in medicinal chemistry for creating targeted therapies. Also employed in research settings to develop novel organic materials and fluorescent probes due to its electron-withdrawing properties and stability. Commonly utilized in cross-coupling reactions such as Suzuki and Buchwald-Hartwig aminations to build complex molecules in drug discovery.