Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fungicides and herbicides. Its structure allows for easy functionalization, making it valuable in building more complex heterocyclic compounds. It is also employed in the preparation of kinase inhibitors and other biologically active molecules in medicinal chemistry research. Commonly utilized in cross-coupling reactions such as Suzuki and Heck reactions to form carbon-carbon bonds in drug discovery pipelines.