This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a valuable building block for creating complex molecules, especially in the pharmaceutical and agrochemical industries. Its deuterated form enhances its use in mechanistic studies and isotopic labeling, aiding in the investigation of reaction pathways and metabolic processes. Additionally, the pinacol ester group improves stability and handling, making it more practical for laboratory applications.