Used extensively in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions to form carbon-carbon bonds. This compound serves as a key intermediate in the production of pharmaceuticals, agrochemicals, and advanced materials. It is also employed in the development of bioactive molecules and complex organic compounds, aiding in the creation of drugs targeting various diseases. Its role in polymer chemistry is notable, where it helps in synthesizing functional polymers with specific properties. Additionally, it is utilized in research for developing sensors and diagnostic tools due to its reactivity with various organic substrates.