Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and other bioactive molecules. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for constructing complex heterocyclic systems. Commonly employed in cross-coupling reactions, such as Suzuki or Heck reactions, to introduce aryl or vinyl groups. Also utilized in the preparation of agrochemicals and dyes due to its reactivity and stability under various reaction conditions.