This chemical is primarily used as a key intermediate in organic synthesis, particularly in the preparation of complex molecules through Suzuki-Miyaura cross-coupling reactions. It plays a significant role in the pharmaceutical industry, where it aids in the development of drug candidates by enabling the formation of carbon-carbon bonds. Additionally, it is employed in materials science for the creation of advanced polymers and electronic materials, contributing to the production of organic semiconductors and other functional materials. Its stability and reactivity make it a valuable tool in research and industrial applications requiring precise molecular construction.