Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated organic compounds. Its structure allows for selective cross-coupling reactions, making it valuable in building complex molecules in medicinal chemistry. Commonly employed in Suzuki and Heck reactions to form carbon-carbon bonds, it aids in the preparation of biaryl compounds with potential biological activity. Also utilized in the research and development of new functional materials and specialty chemicals due to the presence of reactive halogen and ether functionalities.