Used as a key intermediate in the synthesis of kinase inhibitors, particularly in the development of anticancer agents. Its structure allows for selective modification at the iodine position, enabling coupling reactions such as Suzuki or Heck reactions to introduce aromatic or heteroaromatic groups. This makes it valuable in medicinal chemistry for creating targeted therapies, especially in EGFR and other tyrosine kinase pathways. Also employed in the preparation of fluorescent probes and labeled compounds for biochemical assays due to the ease of radiolabeling or functionalization at the iodine site.