Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the preparation of active ingredients for hormone therapies and anticancer agents. Its structure allows for selective functionalization in multi-step organic reactions, making it valuable in medicinal chemistry. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to build complex aromatic systems. Also utilized in agrochemical research for developing new crop protection agents due to its reactivity and stability under various reaction conditions.