Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the preparation of complex heterocyclic compounds. It serves as a building block in cross-coupling reactions, such as Suzuki and Heck reactions, enabling the formation of carbon-carbon bonds for drug development. Also employed in the production of organic light-emitting diodes (OLEDs) due to its ability to form stable metal complexes that function as emissive materials. Its structural properties make it suitable for research in catalysis and materials science.