Used primarily in organic synthesis, this compound serves as a versatile intermediate in the production of pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of complex molecules. It is particularly useful in cross-coupling reactions, such as Suzuki or Sonogashira reactions, to create biologically active compounds. Additionally, it finds application in the synthesis of quinoline derivatives, which are explored for their potential in treating diseases like malaria and cancer. Its halogenated nature also makes it a suitable candidate for material science research, particularly in the development of organic electronic materials.