This chemical is primarily used in organic synthesis, particularly in cross-coupling reactions. It serves as a key reagent in the formation of carbon-carbon and carbon-heteroatom bonds, which are essential in the production of pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity make it suitable for use in palladium-catalyzed reactions, such as Suzuki-Miyaura couplings, enabling the creation of complex molecular structures. Additionally, it finds application in the development of novel compounds for drug discovery and material science research.