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 molecular binding properties. Commonly utilized in cross-coupling reactions such as Suzuki and Heck reactions to build complex organic molecules efficiently.