Used primarily in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, this compound facilitates the formation of carbon-carbon bonds, enabling the creation of complex organic molecules. It is valuable in pharmaceutical research for developing drug candidates, as it allows the introduction of specific functional groups into molecular structures. Additionally, it finds use in material science for designing advanced polymers and organic electronic materials. Its stability and reactivity make it a versatile reagent in various chemical transformations.