Used primarily in organic synthesis, this compound serves as a key intermediate in cross-coupling reactions, such as Suzuki-Miyaura coupling, to create complex biaryl structures. It is particularly valuable in pharmaceutical research for developing drug candidates, enabling the introduction of specific functional groups into aromatic systems. Additionally, it finds application in material science for designing advanced polymers and organic electronic materials. Its unique halogen and boronic acid groups make it versatile in constructing diverse molecular architectures.