This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate in the production of complex organic compounds, including pharmaceuticals and agrochemicals. Its unique structure allows it to act as a versatile building block for creating molecules with specific biological activities. Additionally, it is employed in material science for developing advanced polymers and coatings with tailored properties. Its role in medicinal chemistry is significant, as it aids in the discovery and development of new drugs targeting various diseases.