This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its stability and reactivity make it suitable for forming carbon-carbon bonds, which are essential in constructing bioactive compounds. Additionally, it is utilized in material science for designing advanced polymers and functional materials. Its methoxy group enhances its solubility and reactivity, making it a versatile reagent in various chemical transformations.