This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of various pharmaceuticals and agrochemicals, enabling the formation of carbon-carbon bonds. Its boronic acid functional group is essential for coupling with aryl halides, making it valuable in constructing complex molecules. Additionally, it is employed in the development of bioactive compounds and materials with potential applications in medicinal chemistry and drug discovery. Its stability and reactivity under mild conditions make it a versatile reagent in synthetic organic chemistry.