Used as a key intermediate in the synthesis of various pharmaceuticals, particularly in the development of drugs targeting neurological disorders and cancer. The iodine substituent in its structure is valuable for radioimaging and therapeutic agents, and can be readily displaced in cross-coupling reactions. Additionally, it serves as a building block in organic synthesis for creating complex molecules with potential biological activity. Its applications extend to material science, where it is utilized in the preparation of functionalized polymers and ligands for catalysis.