This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical and agrochemical industries. Its stability and reactivity make it a valuable reagent for forming carbon-carbon bonds, enabling the synthesis of diverse compounds such as biaryl derivatives. Additionally, it is employed in materials science for developing advanced polymers and functional materials. Its role in catalysis and as a building block in medicinal chemistry highlights its versatility in research and industrial applications.