Used as a key intermediate in the synthesis of organic compounds, particularly in Suzuki-Miyaura cross-coupling reactions. This reaction is widely employed in the pharmaceutical industry to create complex molecules for drug development. It also plays a role in the production of advanced materials, such as organic semiconductors and polymers, which are utilized in electronic devices like OLEDs and solar cells. Additionally, it serves as a building block in the preparation of thiophene-based compounds, which are essential in agrochemical research and development.