Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective modification in drug design, enhancing binding affinity to target proteins. Also employed in agrochemical research for creating novel pesticides due to its reactivity and stability in organic transformations. Commonly utilized in cross-coupling reactions, such as Sonogashira coupling, to build complex heterocyclic systems in medicinal chemistry.