Used primarily as a key intermediate in the synthesis of pharmaceuticals and agrochemicals. Its structure allows for selective cross-coupling reactions, making it valuable in the development of complex organic molecules. Commonly employed in the preparation of bioactive compounds, especially in the construction of aryl-aryl and aryl-heteroaryl bonds via palladium-catalyzed reactions. Also utilized in the manufacture of certain specialty dyes and fluorescent probes due to its halogen substitution pattern, which facilitates further functionalization. Its hydroxyl group enables esterification or ether formation, expanding its utility in medicinal chemistry for building molecular diversity.