Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the construction of complex organic molecules. Its application extends to the development of novel drug candidates and active ingredients in crop protection products. Additionally, it is employed in material science for the synthesis of advanced polymers and functional materials.