Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in cross-coupling reactions such as Suzuki and Heck reactions. Its halogen substituents allow for selective functionalization, making it valuable in the development of complex organic molecules. Also employed in the preparation of liquid crystals and functional materials where precise molecular architecture is required. Its phenolic group enables further derivatization, such as etherification or esterification, useful in building molecular diversity for drug discovery.