Used extensively in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, to form carbon-carbon bonds. This chemical is valuable in the production of pharmaceuticals, agrochemicals, and advanced materials. It serves as a key intermediate in creating complex organic molecules, including bioactive compounds and polymers. Additionally, it is utilized in the development of sensors and diagnostic agents due to its ability to interact with diols and other functional groups. Its role in material science includes the synthesis of organic electronic components and liquid crystals.