This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the introduction of the 5-trifluoromethylpyridyl group into various organic molecules, which is valuable in pharmaceutical and agrochemical research. The trifluoromethyl group enhances the biological activity and metabolic stability of the compounds, making it useful in the development of drugs and pesticides. Additionally, its pinacol ester form improves stability and handling, facilitating its use in complex synthetic pathways.