This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for introducing the trifluoromethylpyrazole moiety into more complex molecules, which is valuable in the development of pharmaceuticals and agrochemicals. The trifluoromethyl group enhances the metabolic stability and bioavailability of the resulting compounds, making it a crucial component in drug discovery. Additionally, it is employed in material science for creating advanced materials with specific electronic or structural properties. Its boronic acid functionality allows for versatile reactivity, enabling the formation of carbon-carbon bonds in a controlled and efficient manner.