This compound is primarily utilized in the field of organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a crucial building block for the creation of complex molecules, especially in pharmaceutical research and development. The deuterated ethyl group (ethyl-d5) enhances its utility in studies involving isotopic labeling, which is essential for tracking and understanding metabolic pathways and drug mechanisms. Additionally, it finds application in material science for the synthesis of advanced organic materials with specific electronic properties.