This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of pharmaceuticals and agrochemicals, enabling the formation of carbon-carbon bonds. Its trifluoromethyl group enhances the stability and reactivity, making it valuable in the synthesis of complex molecules. Additionally, it is employed in the development of materials for electronic devices, where its unique properties contribute to the creation of advanced polymers and coatings. Its role in medicinal chemistry is significant, as it aids in the design of drug candidates with improved efficacy and selectivity.