This compound is primarily used in the synthesis of complex organic molecules, particularly in pharmaceutical and agrochemical industries. It serves as a key intermediate in the production of various active ingredients, including drugs and pesticides. Its unique structure allows for selective bromination and fluorination reactions, making it valuable in the development of compounds with specific biological activities. Additionally, it is utilized in material science for creating specialized polymers and coatings with enhanced properties. Its role in cross-coupling reactions also makes it a crucial component in advanced chemical research and development.