Used as a key reagent in Suzuki-Miyaura cross-coupling reactions, enabling the synthesis of complex biaryl compounds in pharmaceutical research. It serves as a building block for creating fluorinated and nitro-substituted aromatic compounds, which are valuable in drug discovery and development. The compound is also employed in the preparation of advanced materials and organic electronics due to its ability to facilitate precise molecular modifications. Additionally, it finds applications in the development of sensors and probes for detecting specific biological molecules.