Used primarily in organic synthesis and pharmaceutical research, this compound serves as a key reagent in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds. It is particularly valuable in the development of biologically active molecules, including drug candidates and agrochemicals. Additionally, it finds application in the preparation of boronic acid derivatives, which are widely used in sensing and diagnostic tools due to their ability to interact with diols and sugars. Its role in the synthesis of complex organic compounds makes it essential in medicinal chemistry and materials science.