Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of active ingredients for antihypertensive and anti-inflammatory drugs. Its structure allows for selective functionalization in multi-step organic reactions, making it valuable in medicinal chemistry. Also employed in the development of agrochemicals, including herbicides and fungicides, due to its reactivity and stability under various reaction conditions. Commonly utilized in research laboratories for constructing complex aromatic compounds through cross-coupling and nucleophilic addition reactions.