This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic 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, facilitating the formation of carbon-carbon bonds. This makes it valuable in creating bioactive compounds, including potential therapeutics for various diseases. Additionally, it is used in materials science for synthesizing advanced polymers and organic electronic materials. Its versatility and reactivity make it a crucial component in research and industrial applications.