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 in the production of pharmaceuticals and agrochemicals, where the trifluoromethylphenyl group enhances biological activity and stability. Additionally, it is employed in the development of advanced materials, including liquid crystals and organic semiconductors, due to its ability to introduce specific functional groups into complex molecules. Its boronic ester moiety allows for efficient coupling with various aryl halides, making it a versatile building block in medicinal chemistry and material science research.