This compound is primarily used in organic synthesis as a versatile building block, particularly in Suzuki-Miyaura cross-coupling reactions. It facilitates the formation of carbon-carbon bonds, making it valuable in the production of complex organic molecules, including pharmaceuticals and agrochemicals. Its trifluoromethyl group enhances the stability and reactivity of the boronic acid, allowing for efficient coupling with aryl halides. Additionally, it is employed in the development of sensors and materials due to its ability to interact with diols and other functional groups, making it useful in biochemical and analytical applications.