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 molecules. This compound is often employed in the development of active pharmaceutical ingredients (APIs) due to its ability to introduce specific functional groups into target molecules. Additionally, it finds application in material science for the synthesis of advanced organic materials with tailored properties. Its versatility makes it a crucial component in research and industrial processes focused on drug discovery and functional material design.