Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective modification, making it valuable in creating analogs for structure-activity relationship (SAR) studies. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to introduce aryl or heteroaryl groups, enabling the construction of complex molecules in medicinal chemistry research. Also utilized in the preparation of radiolabeled derivatives for use in positron emission tomography (PET) imaging due to the presence of iodine, which can be substituted with radioactive isotopes.