Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of bioactive molecules and drug candidates. Its functional groups allow for further transformations, such as cross-coupling reactions, making it valuable in medicinal chemistry for constructing complex aromatic systems. Commonly employed in the preparation of serotonin receptor ligands and other central nervous system agents due to its structural compatibility with aromatic pharmacophores. Also utilized in research settings for the design of novel organic compounds requiring selective substitution patterns on benzene rings.