This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for forming carbon-carbon bonds, enabling the creation of complex organic molecules. Its application is significant in pharmaceutical research, where it aids in the development of drug candidates by facilitating the synthesis of biaryl structures. Additionally, it is employed in material science for designing advanced polymers and organic electronic materials. The compound’s stability and reactivity make it a valuable tool in constructing diverse chemical architectures for industrial and academic purposes.