This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. Its deuterated form enhances stability and allows for detailed studies in isotopic labeling and metabolic research. Additionally, it is employed in material science for the synthesis of advanced organic materials, including polymers and electronic components, due to its ability to introduce specific functional groups into molecular structures.