Used primarily as an intermediate in organic synthesis, this chemical plays a key role in the production of pharmaceuticals and agrochemicals. It is particularly valuable in the construction of complex molecules through cross-coupling reactions, such as the Suzuki and Heck reactions, which are essential for creating biologically active compounds. Additionally, it serves as a building block in the development of dyes and pigments, contributing to the colorants used in various industrial applications. Its unique structure allows for selective functionalization, making it a versatile reagent in research and industrial chemistry.