This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry, where it aids in the development of drug candidates. Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating biaryl structures. Additionally, it finds utility in material science for synthesizing advanced organic materials and polymers. Its stability and reactivity make it a preferred choice in various catalytic processes and research applications.