Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and anxiolytic agents. Its structure allows for selective binding in biological systems, making it valuable in drug discovery. Commonly employed in cross-coupling reactions such as Suzuki or Buchwald-Hartwig to build complex molecules for medicinal research. Also utilized in the preparation of fluorescent probes and labeled compounds for biochemical assays due to its reactive halogen sites.