Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex organic molecules. This compound is also employed in the development of materials for organic electronics, such as light-emitting diodes (OLEDs) and organic photovoltaics, due to its ability to modify electronic properties. Additionally, it finds applications in the synthesis of bioactive compounds and ligands for catalysis.