Primarily utilized in organic synthesis, this compound serves as a versatile reagent in cross-coupling reactions, particularly in Suzuki-Miyaura coupling. It enables the formation of carbon-carbon bonds, making it valuable in the synthesis of complex organic molecules, including pharmaceuticals and agrochemicals. Its stability and ease of handling under various reaction conditions enhance its utility in creating biaryl structures, which are crucial in drug development and material science. Additionally, it finds application in the preparation of fine chemicals and advanced intermediates, contributing to the efficient production of high-purity compounds.