Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It plays a key role in Suzuki-Miyaura cross-coupling reactions, which are widely employed to construct carbon-carbon bonds in drug discovery and materials science. This compound is also utilized in the development of sensors and probes due to its ability to interact with diols and other functional groups, making it valuable in biochemical research and diagnostics. Additionally, it finds applications in the synthesis of complex organic molecules, including natural products and polymers.