This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key reagent for forming carbon-carbon bonds, enabling the creation of complex organic molecules. Its trifluoroethoxy group enhances its stability and reactivity, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it is employed in material science for synthesizing advanced polymers and functional materials with specific electronic or structural properties. Its boronic acid moiety also makes it useful in sensor development for detecting sugars and other analytes.