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 functionalization, making it valuable in medicinal chemistry for creating biologically active molecules. Also employed in the preparation of heterocyclic compounds used in research and drug discovery. Commonly utilized in cross-coupling reactions such as Suzuki and Heck reactions to build complex aromatic systems for use in biochemical assays and therapeutic agent development.