This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key reagent for forming carbon-carbon bonds, enabling the construction of complex organic molecules. Its trifluoromethylphenyl group enhances reactivity and stability, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it is used in material science to create advanced polymers and functional materials with specific electronic or optical properties. Its boronic acid moiety also allows for applications in sensing and detection technologies, particularly in identifying biological molecules.