This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura coupling. It serves as a key intermediate for constructing complex molecules, especially in pharmaceutical research and development. Its deuterated form enhances its utility in studies involving isotopic labeling, which is crucial for tracking and understanding metabolic pathways in drug discovery. Additionally, it is employed in material science for the development of advanced organic materials, including polymers and electronic components. Its stability and reactivity make it a valuable tool in catalytic processes and fine chemical manufacturing.