Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. It also serves in agrochemical formulations as a building block for pesticides due to its stable aromatic structure and reactivity. Its electron-deficient ring system makes it valuable in organic electronics and materials science for designing functional dyes and semiconducting compounds. Additionally, it is employed in research for constructing complex heterocyclic systems through cycloaddition and nucleophilic substitution reactions.