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. Commonly employed in cross-coupling reactions like Suzuki-Miyaura to introduce aryl groups, enabling the construction of complex bioactive molecules. Also utilized in radiolabeling studies due to the presence of iodine, supporting imaging and tracer applications in preclinical research.