Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) and selective COX-2 inhibitors. Its structural features make it valuable in medicinal chemistry for constructing bioactive molecules. Also employed in agrochemical research for designing new pesticides and herbicides due to its stability and reactivity in coupling reactions. Commonly utilized in Suzuki and Stille cross-coupling reactions to form carbon-carbon bonds in complex molecule assembly.