Used primarily 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 targeted therapies. It is also employed in research settings to develop new bioactive molecules, especially in medicinal chemistry for optimizing drug candidates. Due to the presence of iodine, it serves as a suitable substrate for cross-coupling reactions like Suzuki or Heck reactions, enabling efficient construction of complex heterocyclic systems in drug discovery.