Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and other biologically active compounds. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for creating drug candidates targeting cancer and inflammatory diseases. Also employed in agrochemical research for designing new pesticides and herbicides due to its ability to enhance compound stability and bioavailability. Commonly utilized in cross-coupling reactions such as Suzuki and Negishi couplings to build complex aromatic systems in both academic and industrial settings.