Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of complex molecules, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. It facilitates the formation of carbon-carbon bonds, enabling the construction of biaryl structures, which are prevalent in pharmaceuticals, agrochemicals, and materials science. Its stability and reactivity make it a valuable tool in the development of active pharmaceutical ingredients (APIs) and advanced organic materials. Additionally, it is employed in the synthesis of boron-containing compounds, which are useful in various catalytic and medicinal applications.