Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and antiviral agents. Its structure allows for selective functionalization, making it valuable in constructing complex heterocyclic compounds. Commonly employed in cross-coupling reactions such as Suzuki and Heck reactions to build biaryl systems found in bioactive molecules. Also utilized in agrochemical research for designing novel pesticides and herbicides due to its reactivity and stability in multi-step syntheses.