Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as a building block in cross-coupling reactions, such as Suzuki and Heck reactions, enabling the formation of carbon-carbon bonds. Its structure allows for the introduction of phenoxyaryl groups into more complex molecules, making it valuable in the development of functional materials and bioactive compounds. Commonly employed in research settings for the synthesis of liquid crystals, dyes, and specialty polymers.