Used in pharmaceutical research, it serves as a key intermediate in the synthesis of various biologically active compounds. Its structure is particularly valuable in the development of drugs targeting neurological disorders and cancer. Additionally, it is employed in organic synthesis to create complex molecules with potential therapeutic applications. The compound's reactivity with iodine makes it useful in cross-coupling reactions, which are essential in constructing diverse chemical frameworks. Its applications extend to material science, where it contributes to the development of advanced materials with specific electronic properties.