Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for creating biologically active molecules. Commonly employed in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions to build complex heterocyclic systems. Also utilized in radiolabeling studies due to the presence of iodine, enabling imaging and tracer applications in research.