Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of kinase inhibitors for cancer treatment. Its structure supports functionalization at multiple sites, making it valuable in medicinal chemistry for constructing complex heterocyclic systems. Commonly employed in cross-coupling reactions such as Suzuki and Buchwald-Hartwig aminations to build biologically active molecules. Also utilized in research settings for labeling and tracer studies due to the presence of iodine, which can be replaced with radioactive isotopes for imaging applications.