Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antiviral and anticancer drugs. 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 employed in the development of sensors and diagnostic reagents due to its ability to bind selectively with specific biomolecules. Additionally, it finds use in material science for the creation of advanced polymers and coatings with tailored properties. Its versatility in organic synthesis makes it valuable in research and industrial applications.