Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules. Its application extends to the development of advanced materials, including liquid crystals and organic electronic compounds. Additionally, it is employed in the research and production of bioactive compounds, contributing to the discovery of new drugs and therapeutic agents.