Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in creating complex molecules. In research, it is often employed in coupling reactions, such as Suzuki or Heck reactions, to develop new compounds with potential biological activity. Additionally, it finds application in material science for synthesizing specialized polymers and coatings. Its unique properties make it a versatile reagent in advanced chemical processes.