This chemical is primarily utilized in organic synthesis, particularly in Suzuki-Miyaura cross-coupling reactions. It serves as a key intermediate for constructing complex organic molecules, often in the development of pharmaceuticals and agrochemicals. Its boronic acid group enables efficient coupling with aryl halides, facilitating the formation of carbon-carbon bonds. This compound is also valuable in material science for creating advanced polymers and functional materials. Additionally, it finds use in research settings for studying reaction mechanisms and developing new catalytic processes.