Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and other biologically active molecules. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for constructing complex heterocyclic systems. Commonly employed in cross-coupling reactions such as Suzuki and Heck reactions to form carbon-carbon bonds, enabling the creation of diverse compound libraries for drug discovery. Also utilized in the preparation of fluorescent probes and agrochemicals due to its reactivity and stability under various reaction conditions.