This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the construction of complex molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in active pharmaceutical ingredients. Additionally, it is employed in the synthesis of advanced materials, including organic semiconductors and liquid crystals, due to its ability to introduce trifluoromethylphenyl groups into target molecules. Its applications also extend to the field of medicinal chemistry, where it is used to create compounds with potential therapeutic properties, such as enzyme inhibitors or receptor modulators.