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 molecules. Its applications extend to pharmaceutical research, where it is utilized in the development of drug candidates, especially those targeting neurological and inflammatory diseases. Additionally, it is employed in material science for designing advanced polymers and organic electronic materials. Its unique structure allows for precise modifications in molecular frameworks, making it valuable in fine chemical synthesis and industrial applications.