Used primarily as an intermediate in organic synthesis, it plays a key role in the production of pharmaceuticals, agrochemicals, and dyes. Its structure allows for further functionalization, making it valuable in cross-coupling reactions, such as Suzuki and Heck reactions, to create complex organic compounds. Additionally, it serves as a building block in the manufacture of liquid crystals and polymers. In research, it is utilized to study reaction mechanisms and develop new synthetic methodologies.