This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it serves as a key intermediate for constructing complex molecules. Its trifluoromethyl group enhances the stability and reactivity of the resulting products, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it is employed in material science for creating advanced polymers and coatings with specific properties. Its boronic acid moiety also allows for applications in sensor development, particularly in detecting sugars and other biologically relevant molecules.