This compound is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a boronic acid reagent, enabling the formation of carbon-carbon bonds, which is essential in the production of complex organic molecules. Its application is significant in the pharmaceutical industry for the development of drug candidates, especially those targeting specific biological pathways. Additionally, it is utilized in material science for the synthesis of advanced materials with tailored properties. The trifluoromethyl group enhances its reactivity and stability, making it a valuable building block in various chemical transformations.