Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of kinase inhibitors and other biologically active compounds. Its structure allows for selective functionalization, making it valuable in creating complex organic molecules. Commonly employed in cross-coupling reactions such as Suzuki and Heck reactions to build biaryl systems found in drug candidates. Also utilized in the preparation of ligands for catalysis and in materials science for constructing functionalized aromatic frameworks.