This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of complex organic molecules, including pharmaceuticals and agrochemicals. The trifluoromethyl group enhances the lipophilicity and metabolic stability of the final products, making it valuable in drug development. Additionally, its boronic acid functionality allows for efficient conjugation with various aryl halides, enabling the creation of diverse biaryl structures. This chemical is also employed in material science for the synthesis of advanced polymers and functional materials.