This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, enabling the formation of carbon-carbon bonds. Its application is significant in the pharmaceutical industry, where it aids in the development of drug candidates by facilitating the synthesis of bioactive compounds. Additionally, it is employed in material science for the creation of advanced materials, such as organic semiconductors and polymers, due to its ability to introduce functional groups into molecular structures. Its stability and reactivity make it a valuable tool in research and industrial processes.