This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It acts as a key intermediate for the formation of carbon-carbon bonds, enabling the construction of complex organic molecules. Its application is significant in the pharmaceutical industry, where it is used to develop active pharmaceutical ingredients (APIs) and other biologically active compounds. Additionally, it finds use in material science for the synthesis of advanced polymers and functional materials. The presence of varying amounts of anhydride can influence its reactivity, making it adaptable for specific synthetic pathways.