This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions, where it acts as a key intermediate for creating complex biaryl compounds. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in pharmaceutical research for developing drug candidates. Additionally, it is employed in material science for synthesizing advanced polymers and organic electronic materials. The presence of varying amounts of anhydride can influence its reactivity and stability, making it suitable for tailored applications in specific synthetic pathways.