Used extensively in Suzuki-Miyaura cross-coupling reactions, this compound facilitates the synthesis of biaryl structures, which are crucial in pharmaceutical and agrochemical industries. It serves as a key intermediate in the production of various drugs, enabling the formation of complex molecules with high precision. Additionally, it is employed in material science for the development of organic electronic materials, contributing to advancements in OLEDs and other electronic devices. Its stability and reactivity make it a preferred choice in organic synthesis, particularly in constructing carbon-carbon bonds under mild conditions.