Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and antimicrobial agents. Its structure enables selective functionalization, making it valuable in medicinal chemistry for constructing nitrogen-containing heterocycles. It is also employed in research for creating fluorescent probes and optoelectronic materials due to its conjugated aromatic system. Commonly utilized in cross-coupling reactions such as Suzuki and Buchwald-Hartwig to build complex molecules for drug discovery and materials science.