Used as a key intermediate in Suzuki-Miyaura cross-coupling reactions, this compound facilitates the synthesis of complex organic molecules, particularly in pharmaceutical research. It enables the formation of carbon-carbon bonds, essential for creating active pharmaceutical ingredients (APIs) and other bioactive compounds. Its stability and reactivity make it valuable in constructing heterocyclic frameworks, which are prevalent in drug development. Additionally, it is employed in materials science for designing functional organic materials with specific electronic or optical properties.