Primarily used in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key building block in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It facilitates the formation of carbon-carbon bonds, enabling the production of various biologically active compounds, including potential drug candidates. Additionally, it is employed in material science for the development of organic electronic materials and polymers. Its unique structure allows for precise modifications in molecular frameworks, making it valuable in the creation of advanced materials with tailored properties.