This compound is widely used in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical industry. Its boronic acid group allows for efficient coupling with aryl halides, enabling the synthesis of biaryl compounds, which are essential in drug development. Additionally, it is utilized in the production of agrochemicals and materials science, where precise molecular structures are required. Its stability and reactivity make it a valuable tool in the design of novel compounds for various applications.