This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its stability and efficiency make it a valuable tool in the development of polymers, liquid crystals, and organic electronic materials. Additionally, it is utilized in the synthesis of boron-containing compounds, which are important in medicinal chemistry and material science.