Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as a versatile reagent in cross-coupling reactions, such as Suzuki and Heck reactions, to form complex aromatic compounds. Its triflate group acts as a good leaving group, facilitating nucleophilic substitution reactions. Additionally, it is employed in the development of liquid crystals and advanced materials due to its ability to introduce functional groups into aromatic systems. Its stability and reactivity make it valuable in research and industrial applications for creating specialized organic molecules.