This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura couplings. It serves as a key reagent in the formation of carbon-carbon bonds, enabling the construction of complex molecular structures. Its application is significant in the development of pharmaceuticals, where it aids in the synthesis of active pharmaceutical ingredients (APIs). Additionally, it is used in the preparation of fine chemicals and advanced materials, contributing to innovations in material science and industrial chemistry. The compound's stability and reactivity make it a valuable reagent in palladium-catalyzed processes, enhancing efficiency and selectivity in various chemical transformations.