Used as a key intermediate in the synthesis of various pharmaceuticals, particularly in the development of drugs targeting neurological disorders and cancer. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This compound is also utilized in the production of agrochemicals, contributing to the creation of pesticides and herbicides. Additionally, it serves as a building block in material science for designing advanced polymers and electronic materials. Its ability to act as a ligand in catalysis further enhances its application in industrial chemical processes.