Widely used in Suzuki-Miyaura cross-coupling reactions, this compound serves as a key building block in the synthesis of pharmaceuticals and agrochemicals. Its electron-withdrawing trifluoromethyl groups enhance stability and reactivity, making it particularly effective in forming biaryl structures under palladium catalysis. It is also employed in the development of functional materials, including liquid crystals and organic semiconductors, due to the influence of fluorine atoms on electronic properties. The boronic acid group allows for easy derivatization and conjugation, useful in medicinal chemistry for creating compound libraries. Additionally, it finds use in sensor design where fluorinated aromatics improve selectivity and binding characteristics.