This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a versatile building block for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. Its trifluoromethylphenyl group enhances the stability and reactivity of the resulting compounds, making it valuable in creating biologically active molecules. Additionally, it finds applications in material science, where it contributes to the synthesis of advanced polymers and electronic materials, owing to its unique electronic properties.