Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors for cancer treatment. Its structure supports functionalization at multiple sites, making it valuable in medicinal chemistry for creating analogs with enhanced biological activity. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to build complex heterocyclic systems found in bioactive 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.