Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of complex molecules, particularly in cross-coupling reactions like Suzuki-Miyaura coupling. It is valuable in pharmaceutical research for constructing biologically active compounds, especially those targeting specific receptors or enzymes. Additionally, it finds application in materials science for developing advanced polymers and functionalized surfaces. Its unique structure allows for precise modifications, making it a versatile tool in chemical synthesis and drug discovery.