This chemical is primarily used in organic synthesis as a versatile reagent, particularly in cross-coupling reactions. It serves as a key intermediate in the preparation of complex organic molecules, especially in the formation of carbon-carbon bonds. Its application is significant in the development of pharmaceuticals, where it aids in the synthesis of active pharmaceutical ingredients (APIs). Additionally, it is utilized in materials science for the creation of advanced polymers and coatings, contributing to improved material properties. Its role in catalysis and as a stabilizing agent in various chemical processes further highlights its importance in industrial and research settings.