Used in organic synthesis as a building block for Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in pharmaceutical and agrochemical intermediates. Its naphthalene backbone provides a rigid aromatic structure, useful in the development of functional materials such as organic semiconductors and fluorescent dyes. Also employed in the preparation of ligands for catalysis and in medicinal chemistry for constructing biologically active molecules with extended π-systems.