This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical industry for developing active pharmaceutical ingredients (APIs). Its stability and reactivity make it suitable for creating aryl-aryl bonds, which are essential in many drug molecules. Additionally, it is utilized in material science for synthesizing organic electronic materials, such as polymers and small molecules for OLEDs and other optoelectronic devices. The tert-butoxy group enhances its solubility and stability, making it easier to handle in various synthetic processes.