Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in reactions involving palladium-catalyzed cross-coupling such as Sonogashira coupling. It serves to introduce the phenylacetylene moiety in the development of complex organic molecules, including bioactive compounds and functional materials. Its reactivity allows for the construction of conjugated systems useful in organic electronics and fluorescent probes. Also employed in research settings for the preparation of acetylene-based building blocks in medicinal chemistry.