This chemical is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex organic molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Additionally, it is employed in material science for the synthesis of advanced materials, including polymers and liquid crystals. Its boronic acid group makes it a valuable reagent for creating carbon-carbon bonds, which is essential in the production of fine chemicals and agrochemicals.