This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key reagent for the formation of carbon-carbon bonds, enabling the construction of complex organic molecules. Its boronic acid group facilitates the coupling with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in pharmaceutical and material science research. Additionally, it is employed in the development of bioactive compounds and advanced materials due to its ability to introduce trifluoromethoxy-substituted phenyl groups into target molecules. Its stability and reactivity also make it suitable for use in medicinal chemistry for drug discovery and development.