Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting neurological disorders and cancer. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This compound is also employed in the production of advanced materials, such as organic light-emitting diodes (OLEDs), due to its ability to facilitate the creation of conjugated systems. Additionally, it is utilized in biochemical research for the development of probes and sensors that detect specific biological molecules.