This compound is primarily used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate in the production of pharmaceuticals and agrochemicals, enabling the formation of carbon-carbon bonds. Its boronic acid group facilitates the coupling with aryl halides, making it valuable in constructing complex molecules. Additionally, it is employed in the development of bioactive compounds and materials science, contributing to the creation of advanced polymers and electronic materials. Its stability and reactivity make it a versatile tool in medicinal chemistry for drug discovery and development.