This chemical is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the creation of complex organic molecules. Its applications extend to the pharmaceutical industry, where it is utilized in the development of drug intermediates and active pharmaceutical ingredients (APIs). Additionally, it finds use in materials science for synthesizing advanced polymers and functional materials. Its stability and reactivity make it a valuable tool in research and industrial processes for constructing aromatic compounds with specific functional groups.