This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key building block for creating complex organic molecules, especially in the pharmaceutical industry. The boronic acid group facilitates the formation of carbon-carbon bonds, making it valuable for synthesizing various heterocyclic compounds. It is also employed in the development of materials for organic electronics, such as organic light-emitting diodes (OLEDs) and semiconductors, due to its ability to modify electronic properties. Additionally, it finds applications in the preparation of bioactive molecules and agrochemicals, contributing to the discovery of new drugs and crop protection agents.