This chemical 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 organic molecules, especially in the pharmaceutical industry where it aids in the development of active pharmaceutical ingredients (APIs). Its boronic acid group enables efficient coupling with aryl halides, making it valuable for creating biaryl structures, which are common in many drugs and agrochemicals. Additionally, it is employed in material science for synthesizing advanced organic materials with specific electronic or structural properties.