Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. Its structure enables functionalization at multiple sites, making it valuable in medicinal chemistry for designing bioactive molecules. It is also employed in the preparation of fluorescent dyes and optoelectronic materials due to its conjugated aromatic system. Additionally, it serves as a building block in the creation of ligands for metal-organic frameworks (MOFs) and catalysts in organic transformations.