Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules. Its application extends to the development of biologically active compounds, including potential drug candidates targeting specific diseases. Additionally, it is employed in the production of advanced materials, such as liquid crystals and polymers, which are utilized in electronic displays and other high-tech applications. Its versatility in chemical reactions makes it a crucial component in research and industrial processes.