Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) for drugs targeting central nervous system disorders and anti-inflammatory agents. Its structure allows for selective functionalization, making it valuable in constructing complex heterocyclic compounds in medicinal chemistry. Also employed in agrochemical research for designing novel pesticides and herbicides due to its stability and reactivity in cross-coupling reactions. Commonly utilized in Suzuki and Negishi couplings to form carbon-carbon bonds in advanced organic synthesis.