This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. Its boronic acid functional group enables it to form carbon-carbon bonds with various aryl or vinyl halides, making it valuable in the construction of complex organic molecules. It is often employed in pharmaceutical research for the development of drug candidates, especially in the synthesis of heterocyclic compounds. Additionally, it finds use in material science for creating advanced polymers and functional materials. Its stability and reactivity make it a versatile reagent in medicinal chemistry and industrial applications.