This compound is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It acts as a boronic acid reagent, enabling the formation of carbon-carbon bonds between aryl or vinyl boronic acids and aryl or vinyl halides. This makes it valuable in the production of complex organic molecules, including pharmaceuticals, agrochemicals, and advanced materials. Its stability and reactivity under mild conditions make it a preferred choice in medicinal chemistry for the development of drug candidates and bioactive compounds. Additionally, it is employed in material science for creating polymers and other functional materials with specific electronic or structural properties.