This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for the preparation of various biaryl compounds, which are important in the development of pharmaceuticals, agrochemicals, and organic materials. Its boronic acid group enables the formation of carbon-carbon bonds, making it valuable in constructing complex molecular structures. Additionally, it may be used in the synthesis of ligands for catalysis or as a building block in medicinal chemistry for drug discovery and development.