Used as a key intermediate in the synthesis of sulfonylurea herbicides, this compound plays an important role in agricultural chemistry. Its structure allows for efficient coupling reactions, particularly in Suzuki-Miyaura cross-coupling, making it valuable in the development of bioactive molecules and agrochemicals. It is also employed in the preparation of enzyme inhibitors and receptor ligands in medicinal chemistry research due to its ability to interact with biological targets through hydrogen bonding and ionic interactions.