This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for the construction of complex molecules, especially in the pharmaceutical industry, where it aids in the development of active pharmaceutical ingredients (APIs). Its trifluoromethylphenyl group enhances the lipophilicity and metabolic stability of the resulting compounds, making it valuable in drug discovery. Additionally, it is employed in material science for the synthesis of advanced organic materials, including polymers and electronic components, due to its ability to introduce specific functional groups into molecular structures.