Used primarily as a key intermediate in organic synthesis, this compound is valuable in the production of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs). It is also employed in the synthesis of agrochemicals, where it serves as a building block for creating herbicides and pesticides. Additionally, it finds application in material science for the preparation of specialized polymers and coatings. Its reactivity makes it useful in cross-coupling reactions, enabling the creation of complex organic molecules for research and industrial purposes.