This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex 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 the synthesis of biologically active compounds, including potential therapeutics targeting various diseases. Additionally, it may find use in material science for creating advanced polymers or functional materials with specific properties.