Used in organic synthesis as a key intermediate for the preparation of various pharmaceutical compounds. It plays a crucial role in the development of active pharmaceutical ingredients (APIs) due to its functional groups that allow for further chemical modifications. The compound is particularly valuable in the synthesis of heterocyclic compounds, which are often found in drugs targeting neurological and cardiovascular diseases. Its reactivity makes it suitable for cross-coupling reactions, enabling the creation of complex molecular structures. Additionally, it is utilized in research laboratories for the development of new chemical entities with potential therapeutic applications.