This chemical is primarily used in organic synthesis as a versatile intermediate. It is often employed in the preparation of more complex molecules, particularly in pharmaceutical research and development. Its structure allows it to participate in various chemical reactions, making it valuable for creating compounds with potential therapeutic applications. Additionally, it can be utilized in the synthesis of specialty chemicals, where its functional groups enable modifications for specific industrial or scientific purposes. Its role in cross-coupling reactions and as a building block for drug candidates highlights its importance in medicinal chemistry.