Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of ligands for transition metal catalysts. It plays a role in cross-coupling reactions, which are key steps in forming carbon-carbon bonds in complex organic molecules. Also employed in the preparation of functional materials, including organic light-emitting diodes (OLEDs), due to its ability to form stable metal complexes that exhibit luminescent properties. Its structural features make it valuable in research for designing sensors and catalytic systems.