This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of biaryl structures, which are common in active pharmaceutical ingredients. Additionally, it may be employed in material science for creating advanced polymers or coatings with specific properties. Its trifluoromethoxy group can enhance the stability and bioavailability of the resulting compounds, making it valuable in drug discovery and development.