Used as a key intermediate in Suzuki-Miyaura cross-coupling reactions, this compound facilitates the formation of carbon-carbon bonds, essential in synthesizing complex organic molecules. It is particularly valuable in pharmaceutical research for creating drug candidates with precise structural configurations. Additionally, it plays a role in material science, aiding in the development of organic electronic materials like OLEDs and polymers. Its stability and reactivity make it a preferred choice in organic synthesis for constructing aromatic and heteroaromatic compounds.