Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of complex molecules. It is also employed in the synthesis of dyes and pigments, contributing to vibrant and stable colorants. In research, it is utilized to study cross-coupling reactions, which are essential in creating carbon-carbon bonds for advanced material development. Additionally, it finds application in the preparation of ligands for catalytic processes, enhancing efficiency in chemical transformations.