This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid group allows it to act as a key intermediate in forming carbon-carbon bonds, which is essential in constructing complex organic molecules. It is often employed in the pharmaceutical industry for the development of drug candidates, enabling the creation of diverse chemical structures with potential therapeutic properties. Additionally, it finds use in material science for the synthesis of advanced polymers and organic electronic materials, where precise molecular assembly is required. Its stability and reactivity make it a valuable tool in research and industrial applications.