Primarily used in organic synthesis, this compound serves as a versatile reagent in cross-coupling reactions, particularly in Suzuki-Miyaura couplings. Its stability and solubility in various solvents make it a preferred choice for creating complex organic molecules, including pharmaceuticals and agrochemicals. Additionally, it is employed in the development of advanced materials, such as polymers and liquid crystals, due to its ability to introduce naphthalene groups efficiently. Its trifluoroborate moiety enhances reactivity and selectivity, making it valuable in fine chemical manufacturing and research applications.