Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective modification, making it valuable in medicinal chemistry for designing drugs that target specific signaling pathways. Commonly employed in research settings to develop potential anti-inflammatory and antitumor agents. Also utilized in the preparation of heterocyclic compounds for drug discovery due to its ability to participate in cross-coupling reactions and nucleophilic substitutions.