This chemical is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target various diseases. Its structure allows for further functionalization, making it valuable in the creation of complex molecules. Additionally, it is employed in research settings for the development of novel compounds with potential therapeutic applications, such as inhibitors or modulators of biological targets. Its role in cross-coupling reactions also makes it useful in the preparation of heterocyclic compounds, which are essential in medicinal chemistry.