This chemical is primarily used in organic synthesis as an intermediate for the production of various pharmaceuticals and agrochemicals. Its structure allows it to participate in coupling reactions, such as Suzuki or Heck reactions, which are essential for creating complex organic molecules. Additionally, it can serve as a building block in the development of materials with specific electronic or optical properties, making it valuable in the field of material science. Its sulfanyl group also makes it a potential candidate for studies in sulfur-containing compounds, which are important in catalysis and polymer chemistry.