Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex aromatic structures. Its stability and reactivity make it a preferred choice for constructing biologically active molecules, including potential drug candidates. Additionally, it finds application in material science for the development of organic electronic materials and polymers.