Used as a key intermediate in the synthesis of various organic compounds, particularly in the development of pharmaceuticals and agrochemicals. It plays a significant role in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds, which is crucial in creating complex molecules. This compound is also utilized in the production of materials for organic electronics, such as conductive polymers and light-emitting diodes (LEDs), due to its ability to modify and enhance the properties of these materials. Additionally, it finds application in research and development for designing new drug candidates and studying biological processes.