Used as a key intermediate in the synthesis of various pharmaceutical compounds, particularly in the development of drugs targeting neurological disorders and cancer. It plays a crucial role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in complex organic molecules. This chemical is also employed in the production of advanced materials, such as organic light-emitting diodes (OLEDs), due to its ability to facilitate precise molecular design. Additionally, it is utilized in research for developing bioactive molecules and studying enzyme inhibitors, contributing to advancements in medicinal chemistry.